New Delhi: The trade deficit of the country surged by 87.5% in last financial year. As per the data released by the Union government, the trade deficit in 2021-22 is at $ 192.41 billion. It was at $ 102.63 billion in 2020-21. Trade deficit is the difference between imports and exports of the country.
The total exports from the country surged to an all-time record high $ 417.81 billion in last fiscal. The imports to the country also surged to , $ 610.22 billion, leaving a trade gap of $ 192.41 billion. The trade deficit in March 2022 was $ 18.69 billion.
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For the first time, India’s monthly merchandise exports exceeded $ 40 billion, reaching $ 40.38 billion in March 2022, an increase of 14.53% over $ 35.26 billion in the year-ago month. It was up by 87.89% over $ 21.49 billion in March 2020.
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