Exports outpace imports at 11% in March

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  1. According to data released by the commerce and Industry ministry, India’s trade deficit has reduced to $10.89 billion in March,2019 due to rise in exports.
  2. The exports has increased by 11% in March from a year earlier,while imports were up by 1.44% during the same period.
  3. The rise in exports was driven by higher growth in pharmaceutical, chemicals and engineering sectors.Further,the imports have also increased due to rise in oil and gold imports.
  4. A trade deficit is an economic measure of international trade in which a country’s imports exceed its exports.A trade deficit represents an outflow of domestic currency to foreign markets.