{"id":177713,"date":"2022-04-05T21:10:38","date_gmt":"2022-04-05T15:40:38","guid":{"rendered":"https:\/\/blog.forumias.com\/?p=177713"},"modified":"2022-04-05T21:10:38","modified_gmt":"2022-04-05T15:40:38","slug":"indias-trade-deficit-widens-87-5-to-record-192-billion","status":"publish","type":"post","link":"https:\/\/forumias.com\/blog\/indias-trade-deficit-widens-87-5-to-record-192-billion\/","title":{"rendered":"India\u2019s trade deficit widens 87.5% to record $192 billion"},"content":{"rendered":"\n<h5><b>What is the News?<\/b><\/h5>\n<p><span style=\"font-weight: 400;\">According to Government data, <\/span><span style=\"font-weight: 400;\">India\u2019s trade deficit has increased by 87.5% to a record\u00a0 <\/span><span style=\"font-weight: 400;\">$1<\/span><span style=\"font-weight: 400;\">92 billion in 2021-22 from <\/span><span style=\"font-weight: 400;\">$<\/span><span style=\"font-weight: 400;\">102 billion in the previous financial year.<\/span><\/p>\n<h5><b>India\u2019s Merchandise Trade Deficit<\/b><\/h5>\n<figure id=\"attachment_177714\" aria-describedby=\"caption-attachment-177714\" style=\"width: 539px\" class=\"wp-caption alignnone\"><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"wp-image-177714 \" src=\"https:\/\/i0.wp.com\/forumias.com\/blog\/wp-content\/uploads\/2022\/04\/624be38136242238f734d52f_OI.png?resize=539%2C266&#038;ssl=1\" alt=\"\" width=\"539\" height=\"266\" srcset=\"https:\/\/i0.wp.com\/forumias.com\/blog\/wp-content\/uploads\/2022\/04\/624be38136242238f734d52f_OI.png?w=894&amp;ssl=1 894w, https:\/\/i0.wp.com\/forumias.com\/blog\/wp-content\/uploads\/2022\/04\/624be38136242238f734d52f_OI.png?resize=300%2C148&amp;ssl=1 300w, https:\/\/i0.wp.com\/forumias.com\/blog\/wp-content\/uploads\/2022\/04\/624be38136242238f734d52f_OI.png?resize=768%2C380&amp;ssl=1 768w\" sizes=\"auto, (max-width: 539px) 100vw, 539px\" \/><figcaption id=\"caption-attachment-177714\" class=\"wp-caption-text\">Source: TOI<\/figcaption><\/figure>\n<p><span style=\"font-weight: 400;\">India\u2019s Merchandise exports for 2021-22 were at a record high of $418 billion. Similarly, imports also increased by 43.18% to $610 billion, leaving a trade deficit of $192 billion.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">With this, India\u2019s merchandise trade crossed the $1 trillion milestones in FY22.<\/span><\/p>\n<h5><b>Why has the trade deficit increased?<\/b><\/h5>\n<p><span style=\"font-weight: 400;\">The trade deficit has increased primarily on account of the sharp increase in petroleum imports due to the surge in global crude oil prices.<\/span><\/p>\n<p><b>Note<\/b><span style=\"font-weight: 400;\">: The trade deficit for non-oil non-gold-jewellery items stood at $55 billion in 2021-22 Hence, they account for only around one-quarter of the total merchandise trade deficit.<\/span><\/p>\n<h5><b>What are the concerns going forward?<\/b><\/h5>\n<p><span style=\"font-weight: 400;\">The rising economic uncertainty amid the Russia-Ukraine conflict could deteriorate the trade deficit further and widen the current account deficit as international oil prices remain volatile.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Besides, supply-side disruptions, including the rise in freight costs, could hurt exports.<\/span><\/p>\n<p><b>Source: <\/b><span style=\"font-weight: 400;\">This post is based on the artic<\/span><b>le \u201cIndia\u2019s trade deficit widens 87.5% to record $192 billion\u201d <\/b><span style=\"font-weight: 400;\">published in<\/span><b> Livemint <\/b>on <b>5th April 2022.<\/b><\/p>\n","protected":false},"excerpt":{"rendered":"<p>What is the News? According to Government data, India\u2019s trade deficit has increased by 87.5% to a record\u00a0 $192 billion in 2021-22 from $102 billion in the previous financial year. India\u2019s Merchandise Trade Deficit India\u2019s Merchandise exports for 2021-22 were at a record high of $418 billion. Similarly, imports also increased by 43.18% to $610&hellip; <a class=\"more-link\" href=\"https:\/\/forumias.com\/blog\/indias-trade-deficit-widens-87-5-to-record-192-billion\/\">Continue reading <span class=\"screen-reader-text\">India\u2019s trade deficit widens 87.5% to record $192 billion<\/span><\/a><\/p>\n","protected":false},"author":10317,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[1566,3127,9],"tags":[10501],"class_list":["post-177713","post","type-post","status-publish","format-standard","hentry","category-daily-factly-articles","category-economy","category-public","tag-live-mint","entry"],"jetpack_featured_media_url":"","views":{"total":0,"cached_at":"","cached_date":1704916907},"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts\/177713","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/users\/10317"}],"replies":[{"embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/comments?post=177713"}],"version-history":[{"count":0,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts\/177713\/revisions"}],"wp:attachment":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/media?parent=177713"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/categories?post=177713"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/tags?post=177713"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}