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Trade Gap UPSC NOTE

 

Trade Deficit

  • Simply put, a Trade deficit is the gap between exports and imports.

  • It is a condition when money spent on imports exceeds that spent on exports, trade deficit occurs.

  • It can be calculated for various goods and services and also for transactions of international nature.

  • The exact opposite of trade deficit is trade surplus.

  • India’s merchandise exports began 2024-25 on a mildly positive note, rising 1.07% to $35 billion in April. 

  • But the import bill jumped 10.3% to $54.1 billion

  • Almost all of the sharp 32.3% year-on-year surge in April’s goods trade deficit, compared with the $14.4 billion gap in April 2023

Causes

  • It was fuelled by gold imports that tripled to $3.11 billion from $1.01 billion, and a 20.2% rise in the oil import bill, which amounted to $2.8 billion. 

  • The gold import bill in April was also more than double the previous month’s tally

  • Apart from oil and gold, 14 more commodities that figure in India’s major import items, reported an uptick in April, including pulses (up 172.3%), fruits and vegetables (27.7%), medicines and pharmaceuticals (18.4%) and electronics (10%).

  • On the other hand, as many as 17 of the top 30 export items recorded contractions in April, including engineering goods (-3.2%), gems and jewellery (-6.9%), leather (-7.2%), man-made yarn (-6.3%) and readymade garments (-1%)

  • Several agricultural goods continued to see a drop in shipments, including rice (-4.8%), fruits and vegetables (-6.8%), while marine products fell almost 13%

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Learnerz IAS | Concept oriented UPSC Classes in Malayalam: Trade Gap UPSC NOTE
Trade Gap UPSC NOTE
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