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Daily Current Affairs

India's Trade Deficit Narrowed to $11.11 Billion in November

Miscalaneous GK (Phase-I) Indian Economy

20-Dec-22

India’s overall trade deficit for goods and services in November 2022 fell to $11.11 billion, lower than last year(2021), data released by the Commerce Ministry showed. The overall trade deficit was $13.19 billion in November 2021.

Exports (merchandise and services combined) grew 10.97 per cent y-o-y to $58.22 billion, while the import in November grew 5.60 per cent to $69.33 billion.
India’s overall exports in the April-November period grew 17.72 per cent y-o-y to $499.67 billion.
JTrade deficit or negative balance of trade (BOT) is the gap between exports and imports. When money spent on imports exceeds that spent on exports in a country, trade deficit occurs. It can be calculated for different goods and services and also for international transactions.