- July 16, 2020
- Posted by: OptimizeIAS Team
- Category: DPN Topics
For the first time since 2002, India’s merchandise trade balance turned surplus of $790 million in June
- This is a rare occurrence because since 1976-77, there has not been a single year when India did not incur a substantial merchandise trade deficit.
- Improvement in trade balance has been driven mainly by a sharper decline in imports. This is a warning sign for the economy as the decline in imports, especially in merchandise goods, points towards a contraction of demand in the real economy
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