Question
India’s exports contracted by 1.15 per cent to
_____________in August 2022?Solution
India’s exports contracted by 1.15 per cent to USD 33 billion and trade deficit more than doubled to 28.68 billion in August 2022. During April-August 2022-23, exports registered a growth of 17.12 per cent to USD 192.59 billion. Imports during the five-month period of this fiscal grew by 45.64 per cent to USD 317.81 billion. A trade deficit occurs when a country's imports exceed its exports during a given time period. It is also referred to as a negative balance of trade (BOT).
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