India's trade deficit widens
India’s merchandise trade deficit widened to $14.62 billion in May 2018.
But cumulative value of exports for the period April-May 2018-19 was $54.77 billion as against $48.65 billion registering a positive growth of 12.58% in dollar terms and 16.37% in rupee terms over the same period last year.
Did you Know
The balance of trade is the difference between the value of a country's imports and exports for a given period. The balance of trade is the largest component of a country's balance of payments.
The balance of payments is a statement of all transactions made between entities in one country and the rest of the world over a defined period of time, such as a quarter or a year.