- Comparison between 2012-13 and 2013-14 Exports and Imports:
- Imports fell 2.11 per cent to $40 billion as compared to March 2013.
- Exports grew 3.98% to $312.35 billion falling short of the target of $325 billion.
- Trade deficit decreased to $138.59 billion from $190.33 billion in 2012-13.
- Shipments contracted 3.15 per cent to $29.57 billion in March 2014.
- Trade deficit during the month of March was $10.5 billion against $10.4 billion in 2013.
- Oil imports in March increased 17.7 per cent to $15.78 billion compared to 2.2 per cent to $167.62 billion in 2-13-14.
- The gap in the last financial year was the lowest since $104.4 billion in 2010-11. In March, exports contracted to $29.57 billion and imports fell 2.11 per cent to $40 billion from a year earlier.
- A fall in gold and silver imports helped to contract the trade gap.
- China experienced a fall in exports indicating a possible slowdown in global demand.
- Factors contributing to the slowdown.
- Slowdown in manufacturing.
- Liquidity crunch.
- Currency appreciation in addition to depreciating currency of trading partners
- Softening of metal and commodity prices.
Exams Perspective:
- Exports and Imports
- Trade deficit
- China exports
- gold and silver imports