Question
Which of the following terminology is a measurement of a
country’s trade where the value of the goods and services it imports exceeds the value of the products it exports?Solution
• India’s gold imports, which have a bearing on the country’s current account deficit (CAD), rose by 33.34% to USD 46.14 billion during the 2021-22. • The surge in gold imports during the last financial year contributed to the widening of the trade deficit to USD 192.41 billion, against USD 102.62 billion in 2020-21. • India is the world’s second-biggest gold consumer after China. • The gems and jewellery exports during 2021-22 grew by about 50% to about USD 39 billion. • Gold imports in volume terms stood at 842.28 tonnes in April 2021 – February 2022.
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