Question

    What was the key reason for the record-high trade

    deficit of $37.8 billion in November 2024?
    A Decline in export volumes of engineering goods Correct Answer Incorrect Answer
    B Sharp drop in global petroleum prices Correct Answer Incorrect Answer
    C 4.3x increase in gold imports to $14.9 billion Correct Answer Incorrect Answer
    D Reduced demand for Indian pharmaceuticals in global markets Correct Answer Incorrect Answer
    E Increased export of non-petroleum goods Correct Answer Incorrect Answer

    Solution

    3.    The surge in gold imports, along with rising prices, significantly contributed to the widened trade deficit.

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