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India's <keyword id="183320" type="UNKNOWN" weightage="100" keywordseo="current-account-deficit">current account deficit</keyword> (CAD) narrowed to 1.7% of <keyword id="35050" type="CITY" weightage="80" keywordseo="gdp">GDP</keyword> in the April-June quarter of FY2014-15. This was mainly due to a reduction in <keyword id="113688" type="UNKNOWN" weightage="100" keywordseo="trade-deficit">trade deficit</keyword> and fall in gold imports. 
 "The lower CAD was primarily on account of a contraction in the trade deficit contributed by both a rise in exports and a decline in imports," <keyword id="30067" type="ORGANIZATION" weightage="80" keywordseo="RBI">RBI</keyword> said. 
 
CAD narrowed $7.8 billion (1.7% of GDP) from $21.8 billion (4.8% of GDP) in the year-ago period. 
 
There was a huge fall of 57.2% in gold imports, amounting to $7 billion, which is lower than $16.5 billion in the April-June quarter of FY2013-14, RBI said. 
 
The trade deficit decreased by 31.4% to $34.6 billion in Q1 of FY2014-15 as compared to $50.5 billion in Q1 of FY2013-14. 
 
The CAD had reached $87.8 billion in FY2012-13 due to a sharp increase in gold imports. 
 
According to the Balance of Payments (BoP) data, on net basis, both foreign direct investment and portfolio investment recorded inflows in the first quarter of 2014-15. 
 
"There was a net accretion of $11.2 billion to India's foreign exchange reserves in the first quarter of 2014-15 as against a draw down of $0.3 billion in Q1 of 2013-14," RBI said.

CAD Dips To 1.7% In Q1 As Trade Deficit Declines

New Delhi, India's <keyword id="35090" type="General" weightage="20" keywordseo="exports" source="Orion">exports</keyword> contracted by 12.7 per cent, third month in a row, to USD 34.66 billion in April even as the <keyword id="113688" type="General" weightage="20" keywordseo="trade-deficit" source="Orion">trade deficit</keyword> reduced to a 20-month low of USD 15.24 billion, the government data showed on Monday. The decline in exports is mainly on account of poor demand in India's key destinations -- the Europe and the US -- and it may take some more months for the situation to improve. The demand scenario is "not looking very good as far as Europe is concerned, and the US also we have seen a decline in demand. For the next 2-3 months, I think the demand scenario does not look very optimistic," DGFT (Director General of Foreign Trade) Santosh Kumar Sarangi told reporters here. However, he expressed hope that things would change from September onwards. "There is a possibility that opening up of Chinese economy combined with some boost in demand in the Europe and the US economy from August-September onwards might give a boost to global exports," he said. Imports too declined by about 14 per cent, fifth month in a row, to USD 49.9 billion as against USD 58.06 billion recorded in the same month last year, the data showed. Trade deficit in April last year stood at USD 18.36 billion. The previous lowest level was recorded in August 2021, when the deficit stood at USD 13.81 billion. On imports, Sarangi said that the decline is because of cooling down of commodity prices and reduced demand for products which are considered as discretionary like gems and jewellery. He suggested to diversify into products which have higher export demand, such as electronic goods, oil meals, oil seeds, and agricultural goods. He added that export sectors which may get impacted in the coming months include gems and jewellery, apparel and garments, and some engineering products. In April, export sectors which recorded negative growth included petroleum products, gems and jewellery, engineering goods, chemicals and ready-made garments of all textiles. However, electronic goods, pharma, rice and oil meals registered positive growth. The shipments of electronic goods increased by 26.49 per cent to USD 2.11 billion in the month under review. Under merchandise exports, only 11 of the 30 key sectors exhibited positive growth in April and at imports front, 23 out of 30 key sectors recorded negative growth. Crude oil imports dipped by 13.95 per cent to USD 15.17 billion. Gold imports too contracted by 41.48 per cent to USD 1 billion in April. India's exports to the US in April declined by 17.16 per cent to USD 5.9 billion. Similarly to the UAE it dipped by 22 per cent to USD 2.23 billion in April. The other key export destinations where exports reported negative growth included China, Singapore, Bangladesh, and Germany. Further, the commerce ministry has revised upwards the overall trade figures for 2022-23. According to the ministry's data, exports of goods and services in 2022-23 rose by 14.68 per cent to USD 775.87 billion (earlier it was USD 770 billion) as against USD 676.53 billion in 2021-22. Imports increased by 17.65 per cent to USD 894.19 billion, leaving a trade deficit of USD 118.31 billion in 2022-23. Merchandise exports increased by 6.74 per cent to USD 450.43 billion, while imports rose by 16.47 per cent to USD 714 billion in the last fiscal. Services exports rose 27.86 per cent to USD 325.44 billion, while imports increased by 22.54 per cent to USD 180 billion in the last fiscal. Services exports in April this year were estimated at USD 30.36 billion, as compared to USD 24.05 billion in April 2022. The estimated value of services import in April was USD 16.50 billion as compared to USD 14.06 billion in April 2022.

Exports fall for third consecutive month by 12.7% in April; trade deficit at 20-month low

<div class="KonaFilter image-container display-table float_right"><div><div class="image">REUTERS/Svitzer/Handout</div></div></div>The <a href="http://www.bea.gov/newsreleases/international/trade/tradnewsrelease.htm">U.S. trade deficit</a> widened to $42.3 billion in February from $39.3 billion in January.
Economists were expecting the deficit to narrow to $38.5 billion.
Exports fell $2.0 billion to $190.4 billion, but imports climbed $1.0 billion to $232.7 billion.
"While we expect net trade to be a modest drag on domestic economic activity, the strong performance in consumer goods and auto demand can be seen as a signal of revival in domestic consumer spending activity after the weakness in the previous two months," said TD Securities Millan Mulraine. "Notwithstanding this, the weak performance in export activity, which has declined in two of the last three months suggests that the global environment has largely remained unsupportive to US economic activity."
"The core non-oil Deficit ex-aircraft rose $1.2 billion, thanks mostly to an out-of-the-blue 2.1% leap in imports of services, worth $0.8 billion," noted Pantheon Macroeconomics' Ian Shepherdson. "This appears to reflect the payment of fees for broadcast rights to the Winter Olympics, so we expect a reversal in March."
<div class="KonaFilter image-container"><div class="image">Pantheon Macroeconomics</div></div>
From the BEA:
Goods (Census Basis)
The January to February decrease in exports of goods reflected decreases in industrial supplies and materials ($2.7 billion) and capital goods ($0.9 billion). Increases occurred in consumer goods ($1.2 billion); other goods ($0.6 billion); and automotive vehicles, parts, and engines ($0.1 billion). Foods, feeds, and beverages were virtually unchanged.
The January to February decrease in imports of goods reflected decreases in capital goods ($1.2 billion); industrial supplies and materials ($0.3 billion); and foods, feeds, and beverages ($0.1 billion). Increases occurred in automotive vehicles, parts, and engines ($1.0 billion); consumer goods ($0.1 billion); and other goods ($0.1 billion).
Exports of goods were virtually unchanged from February 2013 to February 2014. Decreases occurred in industrial supplies and materials ($1.8 billion); automotive vehicles, parts, and engines ($0.2 billion); and other goods ($0.1 billion). Increases occurred in consumer goods ($1.5 billion); capital goods ($0.3 billion); and foods, feeds, and beverages ($0.2 billion).
The February 2013 to February 2014 decrease in imports of goods reflected decreases in industrial supplies and materials ($0.9 billion) and consumer goods ($0.9 billion). Increases occurred in automotive vehicles, parts, and engines ($0.9 billion); capital goods ($0.4 billion); and other goods ($0.1 billion). Foods, feeds, and beverages were virtually unchanged. Services
Exports of services were virtually unchanged from January to February. Increases in other private services ($0.1 billion), which includes items such as business, professional, and technical services, insurance services, and financial services, and in royalties and license fees ($0.1 billion) were mostly offset by a decrease in passenger fares ($0.2 billion). Changes in the other categories of services exports were relatively small.
Imports of services increased $0.8 billion from January to February. The increase was mainly accounted for by an increase in royalties and license fees ($0.8 billion), which included payments for the rights to broadcast the 2014 Winter Olympic Games. Other private services increased ($0.1 billion). Partly offsetting these increases was a decrease in other transportation ($0.1 billion), which includes freight and port services. Changes in the other categories of services imports were relatively small.
The February 2013 to February 2014 increase in exports of services was $3.0 billion or 5.5 percent. The largest increases were in other private services ($1.7 billion), in travel ($0.8 billion), and in royalties and license fees ($0.6 billion). Within other private services, the largest increase was in business, professional, and technical services.
The February 2013 to February 2014 increase in imports of services was $2.5 billion or 6.7 percent. The largest increases were in other private services ($1.4 billion), in royalties and license fees ($0.8 billion), and in travel ($0.3 billion). Within other private services, the largest increase was in business, professional, and technical services. The increase in royalties and license fees was mostly accounted for by payments for the rights to broadcast the 2014 Winter Olympic Games.

TRADE DEFICIT WIDENS

<div class="KonaFilter image-container display-table float_right"><div><div class="image on-image"></div></div></div>The oil crash will hit Colombia hard.
The South American country was already in trouble before last month's sudden drop in oil prices: as of September, the trade deficit had exploded to $449.6 million this year, up from $66.2 million in that period last year, <a href="http://www.reuters.com/article/2014/12/04/colombia-economy-fiscal-idUSL2N0TN2P020141204">Reuters reported</a>.
That's an expansion of 579 percent, all other things being equal.
Oil exports are Colombia's number one source of foreign exchange, according to Reuters. It's the fourth-largest oil producer in the region, the <a href="http://www.ft.com/intl/fastft/245521">Financial Times reported</a>, and crude makes up more than half of the country's exports.
So the crash is likely to have harmful long-term effects.
The trade deficit was already up to 4.4 percent of GDP in the first half of this year - from 3.4 percent last year - Reuters reported, and it's unlikely that the government's 2.4 percent target will be met in 2015.
Colombia could also face a drop in foreign direct investment, as investors lose interest in oil projects there - or capital flight on expectations of higher interest rates to come, Reuters reported.
Analysts predict the government will begin issuing more external debt to help meet fiscal targets.
The 2015 budget does not account for a drop in oil prices below $98 per barrel, the FT reported. Right now prices are hovering closer to $70 per barrel.
It looks like the government will have to make some changes soon.

Colombia's Trade Deficit Is Ballooning

<div class="KonaFilter image-container display-table float_right"><div><div class="image on-image"></div></div></div>The US trade deficit unexpectedly widened to $46.6 billion in December from $39.8 billion in November.
Economists had forecast a $38 billion deficit as as the dollar value of energy imports tumbled.
This is the widest deficit since November 2012.
<a href="http://www.businessinsider.com/trade-balance-december-2015-2">Click Here For Updates »</a>

US TRADE DEFICIT BALLOONS

The US trade deficit widened to $47.1 billion in February.Economists had estimated that the excess of imports over exports - or the trade deficit - increased to $46.2 from $45.7 billion in the prior month. The Commerce Department revised the deficit in January was revised to $45.9 billion from $45.7 billion. The advance goods trade report last week showed that activity weakened. America's trade balance with Saudi Arabia moved from a deficit of $0.2 billion to a surplus of $1.3 billion during February. The deficit with China rose by $1 billion to $32.1 billion. <a href="/us-trade-balance-february-2016-2016-4">Refresh this page for updates.</a> <div class="margin-top"> <h3>NOW WATCH: <a href="http://www.businessinsider.com/animated-map-travel-times-london-1914-ships-railroads-2016-1">Animated map shows the time it took to travel the world 100 years ago</a></h3> <div> <div> <div class="ooyala-video-player" data-video-autoplay="false" data-video-id="kzbm1hMDE6Pc91cBvOcadUsO_2r_N-yU" data-player-variable="ooyalapopvideo" id="ooyalaplayer_popvideo" style="width:1280px;height:720px"></div> </div> </div> </div>

Trade deficit balloons in February

While we expect that the potential <keyword id="44844" type="ORGANIZATION" weightage="20" keywordseo="Trade">trade</keyword> war between the US and <keyword id="1334" type="COUNTRY" weightage="20" keywordseo="China">China</keyword> <a href="https://www.businessinsider.in/heres-how-the-potential-trade-war-between-the-us-and-china-could-affect-india/articleshow/64733418.cms">will mostly be bad for everyone involved</a>, including <keyword id="3658" type="COUNTRY" weightage="20" keywordseo="India">India</keyword>, we did suggest that there could be some short-term trade benefits for India. It seems that those benefits are going to come to fruition sooner than expected. Yesterday, Luo Zhaohui, China’s ambassador to India, said that <keyword id="6361864" type="UNKNOWN" weightage="20" keywordseo="Tariffs">tariffs</keyword> on 8,549 goods from India and other Asian countries would be lowered or waived completely. 
 <div type="javascript" title="Custom"><cdata><![CDATA[
 
]]></cdata></div>



 The lower tariffs, which will be effective from July 1st, are part of the Asia-Pacific Trade Agreement (APTA), which is currently in its fourth round of negotiations. The goods mentioned in the tweet - soybean, clothes, agricultural commodities, medical products, steel and aluminium and chemicals - are mostly the same ones that China imports from the US. In essence, it is a strong-arm move to show the US that it can get these products from its neighbours. In response to a move by the Trump administration to impose 25% tariffs on $50 billion worth of Chinese goods earlier this month, China said it would raise duties on $34 billion worth on imports from the US. Protecting Chinese consumers China is mainly reducing the tariffs on these goods from other countries to help its domestic consumers, who would have otherwise had to deal with higher prices. The expansion of trade ties with its neighbours like India is an added benefit. The move will prove a blessing to Indian exporters and producers of these goods, who will greater access to the Chinese market as they get preference over their counterparts from the US. It will particularly help producers of soybean and sugar. However, to prove effective, they need to be supported with less stringent regulatory clearance requirements and administrative hurdles. Lower <keyword id="113688" type="PERSON" weightage="20" keywordseo="trade-deficit">trade deficit</keyword> China has pledged to allow Indian exporters greater access to its markets, especially for agricultural and pharmaceutical goods. Last month, it announced it would host <a href="https://www.businessinsider.in/china-is-offering-india-a-softball-solution-to-the-two-countries-staggering-trade-imbalance/articleshow/64257524.cms">an import-only fair in November</a> wherein 100 Indian exporters were invited to participate. The lower tariffs will be a more comprehensive solution. They will benefit Indian exporters on a micro level. Additionally, on a macro level, the greater market access will also help in reducing India’s trade deficit with China, something that the Chinese ambassador alluded to in his tweet. India exported a mere $13.3 billion worth of goods to China in the last fiscal year, compared to $76.2 billion worth of imports. The levelling of the playing field is long overdue, and the lower tariffs are a step in the right direction.

India is starting to reap short term benefits from the US-China trade battle

<div class="KonaFilter image-container display-table float_right"><div><div class="image on-image">Kusakabe via <a href="http://www.flickr.com/photos/kusakabe/4697955268/">www.flickr.com</a> creative commons</div></div></div>Japan posted a record November trade deficit, data showed Wednesday, underscoring how soaring energy bills have weighed on the country's trade balance despite a jump in exports.
Government figures showed a 35.1 percent on-year rise to a 1.29 trillion yen ($12.6 billion) deficit, the worst result for November and the 17th straight month of shortfall -- the longest stretch since comparable data began more than three decades ago.
Japan's energy imports surged after the 2011 Fukushima crisis forced the shutdown of the country's nuclear reactors, which once supplied a third of the nation's power.
A sharp decline in the yen, which is good for exporters' profitability, has also forced up the cost of importing pricey fossil-fuels to plug the country's energy gap.
The yen has been under pressure since Japanese Prime Minister Shinzo Abe, who took office late last year, launched a policy blitz that meshed government spending with a central bank monetary easing plan unveiled in April.
The policy drive, dubbed Abenomics, is aimed at rebooting the world's third-largest economy, which has suffered from growth-sapping deflation for years.
Wednesday's trade figures come on the back of slowing GDP growth after a sizzling expansion that saw Japan outpace other G7 nations in the first half of the year.
Japan's third-quarter economic growth came in at a final reading of 0.3 percent, down from an initial figure of 0.5 percent -- and a sharp slowdown from 0.9 percent growth in the previous quarter.
But firms appear to be taking the slowdown in their stride. On Monday, a Bank of Japan survey that polls more than 10,000 companies showed business confidence has soared to a six-year high.
Part of the reason is the sharp weakening of the yen over the past year, which has seen Japanese exporters such as Sony and Toyota booking rosy profits as the cheaper unit made them more competitive overseas while inflating repatriated earnings.
That benefit showed up in the trade data as exports last month rose 18.4 percent to 5.90 trillion yen, backed by robust shipments of automobiles.
Imports soared 21.1 percent to 7.19 trillion yen, owing to Japans' hefty bills for oil and gas purchases.
Exports expanded in most major regions, with US-bound shipments up 21.2 percent to 1.13 trillion yen while those to the European Union rose 19.4 percent to 599.4 billion yen.
Goods shipped to Japan's biggest trading partner China surged 33.1 percent to 1.14 trillion yen, as the impact of a consumer boycott on Japanese brands fades.
The boycott came after a Tokyo-Beijing territorial dispute over islands in the East China Sea set off protests in China and soured already testy relations between the Asian giants.
As the conservative prime minister nears his one-year anniversary, there is rising speculation that the central bank will expand its easing programme -- which injects vast sums into the financial system -- as growth slows and consumers prepare for a sales tax hike that critics fear will derail a budding recovery.
Tokyo has approved a spending package worth almost $54 billion to offset the tax hike -- to 8.0 percent from 5.0 percent -- seen as crucial to bring down Japan's huge national debt.
Analysts have warned that Abe's bold pro-growth programme is not enough on its own without promised economic reforms.
A proposed shake-up, including loosening labour laws and signing free trade deals, is seen as key to ushering in lasting change.
 
<div class="nc_footer">
Copyright (2013) AFP. All rights reserved.
</div>

Japan Posts Record Trade Deficit

<ul><li>The World <keyword id="44844" type="ORGANIZATION" weightage="20" keywordseo="Trade">Trade</keyword> Organisation (WTO) has predicted that trade volumes for January-March 2019 will grow by their lowest level in nine years. </li><li>India is aiming for a growth in <keyword id="35090" type="COMPANY" weightage="20" keywordseo="exports">exports</keyword> to minimise fluctuations in its currency and trim its <keyword id="113688" type="PERSON" weightage="20" keywordseo="trade-deficit">trade deficit</keyword>. </li><li>Export growth will have to be significantly higher if India wants to prevent a rise in its trade deficit, which widened to $14.7 billion last month. </li></ul>The first quarter of 2019 was never going to be an easy period for global trade. Amid a slowdown in China and the EU, a potential no-deal Brexit and a trade dispute between the US and China - the two engines of global trade, the World Trade Organisation (WTO) has <a href="https://www.wto.org/english/news_e/news19_e/wtoi_19feb19_e.htm">predicted </a>that trade volumes for January-March 2019 will grow by their lowest level in nine years. The forecast is based on WTO’s quarterly outlook trade indicator - a reading of seven factors such as merchandise trade volume, export orders, international air freight and automobile production and sales - which has fallen to a 96.3, falling to their lowest level since the financial crisis. A value of below 100 on the index indicates a reduction in trade growth. India is aiming for a growth in exports to minimise fluctuations in its currency and trim its trade deficit. However, its exports grew by a <a href="https://auto.economictimes.indiatimes.com/news/industry/indias-jan-trade-deficit-widens-to-14-73-billion-trade-ministry/68011931">mere 3.7%</a> to $26.4 in January 2019. Export growth will have to be significantly higher if India wants to prevent a rise in its trade deficit, which widened to $14.7 billion as imports stayed flat at $41.1 billion. Although India had intended to capitalise on the US-China trade war to boost its exports to both these countries, a slowing global trade scenario means demand could take a hit, triggering the possibility of oversupply. In a situation of oversupply, cheap imports from east Asian countries like China tend to flood the market, <a href="https://www.business-standard.com/article/reuters/exclusive-indian-steel-firms-seek-higher-duties-on-steel-imports-as-prices-drop-119020501040_1.html">hurting domestic producers</a> like steel companies. That could be exacerbated by <a href="https://www.businessinsider.in/heres-what-the-slowdown-in-european-economy-means-for-indias-exports/articleshow/67687183.cms">a slowdown in the EU</a> as well, which India is currently negotiating a <a href="https://www.financialexpress.com/economy/india-hopes-to-sign-fta-with-eu-in-foreseeable-future/1481629/">free trade agreement </a>with. However, there may be a positive side effect from the reduction in trade growth. Lower trade growth could partly drive a slowdown in global economic growth. This in turn will likely keep a lid on oil prices, which have a direct relationship with global growth cues. Oil prices rise with higher demand, which is an outcome of high global growth, and vice versa. India needs oil prices to remain within a manageable range of $60-$65/barrel to prevent finances from deteriorating further, so this could offset a decline in exports. The WTO ended its forecast on a sobering note. “This sustained loss of momentum highlights the urgency of reducing trade tensions, which together with continued political risks and financial volatility could foreshadow a broader economic downturn,” the WTO said in a statement. SEE ALSO: <a href="https://www.businessinsider.in/heres-what-the-slowdown-in-european-economy-means-for-indias-exports/articleshow/67687183.cms">A slowdown in the Eurozone points to doom for India's ailing exports</a> <a href="https://www.businessinsider.in/india-to-make-a-renewed-push-for-an-important-regional-trade-treaty-that-will-create-the-worlds-largest-trading-bloc/articleshow/66602874.cms">India to make a renewed push for an important regional trade treaty that will create the world’s largest trading bloc</a>

India should be worried as this may be the worst quarter for global trade in ten years

Boost in domestic <keyword id="19914449" type="General" weightage="20" keywordseo="manufacturing" source="keywords">manufacturing</keyword> due to PLI (production linked incentive) schemes and increase in <keyword id="19916774" type="General" weightage="20" keywordseo="exports" source="keywords">exports</keyword> on account of free trade agreements are expected to bridge the country's <keyword id="20201391" type="General" weightage="20" keywordseo="trade-deficit" source="keywords">trade deficit</keyword> further, <keyword id="20613906" type="General" weightage="100" keywordseo="Economic-Survey" source="keywords">Economic Survey</keyword> said on Monday. However, it said that fluctuations in <keyword id="19936629" type="General" weightage="20" keywordseo="commodity-prices" source="keywords">commodity prices</keyword>, especially for critical imports like oil, metals, and agricultural products, can impact India's trade balance and inflation levels. The Survey said that though ongoing geopolitical headwinds impacted India's merchandise exports, lowering international commodity prices ensured a lower trade deficit in FY24 than in FY23. The country's merchandise trade deficit narrowed to USD 240 billion in 2023-24 from USD 265 billion in 2022-23. It added that changes in trade policies by major trading partners or geopolitical developments can affect India's export opportunities and market access. "In the coming years, India's trade deficit is expected to decline further as the <keyword id="19981334" type="General" weightage="20" keywordseo="PLI-scheme" source="keywords">PLI scheme</keyword> is expanded and India creates a globally competitive manufacturing base in several product categories," the Survey said. It added that the recently signed FTAs (free trade agreements) are expected to increase the <keyword id="22374533" type="General" weightage="20" keywordseo="global-market-share" source="keywords">global market share</keyword> of the country's exports. The PLI scheme for sectors like mobile manufacturing, information technology (IT) hardware, pharmaceutical, telecommunications, and food product are helping to increase manufacturing and cut imports. India has implemented <keyword id="20000557" type="General" weightage="20" keywordseo="FTA" source="keywords">FTA</keyword> with Mauritius, Australia and the UAE. It added that a narrowing merchandise trade deficit and rising service exports have improved the CAD (<keyword id="20054874" type="General" weightage="20" keywordseo="current-account-deficit" source="keywords">current account deficit</keyword>), ending with a surplus of 0.6 per cent of GDP in Q4 of FY24. However, the risks to the performance of India's external sector are on the downside due to the persistence of current <keyword id="19955176" type="General" weightage="20" keywordseo="geopolitical-tensions" source="keywords">geopolitical tensions</keyword> and policy uncertainty, it said. Some of the challenges listed by the survey includes fall in demand from major trading partners like the US, rise in trade cost, and volatility in commodity prices. Attacks on shipping in the Red Sea and drought in the Panama Canal have resulted in trade flows being re-routed, increasing journey time and costs. India's merchandise trade relies heavily on maritime trade, so disturbances in major shipping routes can impact its economy. "It is critical to explore what these changing paradigms mean for India. Policies need to be a mix that straddles security concerns with economic considerations," the survey said, adding India's push towards manufacturing in complex and niche sectors through schemes such as PLI and Make in India aims to balance these goals. Further, the survey emphasised on the need to focus on improving India's competitiveness in many product areas. For example, it said, India has tremendous potential in becoming a large global exporter in agricultural commodities. Fostering stronger regional trade ties and adding more markets for Indian goods will help mitigate global demand fluctuations. "In an era when global economic growth is likely to be buffeted by geopolitical tensions and protectionism, growing India's exports of goods and services will be a stiffer challenge than before," it cautioned. Commenting on this, Rumki Majumdar, Economist, Deloitte India, said that despite global uncertainties, India's exports are recording positive growth rates. "That shows the resilience of our exports amidst global uncertainties," she said, adding, "by transforming our export basket and focusing on higher margins and value addition across various sectors, India will easily achieve its ambition of USD 2 trillion in exports by 2030-31."

India's trade deficit expected to decline further: Economic Survey

<ul class="summary-list"><li>The US <keyword id="113688" type="PERSON" weightage="60" keywordseo="trade-deficit">trade deficit</keyword> swelled in August by 5.9%, to $67.1 billion, its highest level since 2006, the Commerce Department <a href="https://www.census.gov/foreign-trade/Press-Release/current_press_release/ft900.pdf">said</a> Tuesday.</li><li>Economists surveyed by Bloomberg had expected the trade gap to widen to $66.2 billion.</li><li>Shipments of consumer goods led the increase in imports and hit a record high as companies prepared for holiday-season spending.</li><li>President Donald Trump has frequently pointed to the trade deficit as a gauge of his trade policies' success. The growing gap gives him little to brag about heading into the 2020 election.</li></ul>The <keyword id="339316" type="ORGANIZATION" weightage="60" keywordseo="US-Trade">US trade</keyword> deficit swelled to its largest since 2006 in August as holiday-season importing accelerated.The gap in the trade of goods and services grew by 5.9%, to $67.1 billion, the Commerce Department <a href="https://www.census.gov/foreign-trade/Press-Release/current_press_release/ft900.pdf">said</a> Tuesday. Total exports climbed 2.2%, to $171.9 billion. Imports jumped 3.2%, to $239 billion.Economists surveyed by Bloomberg had expected the deficit to balloon to $66.2 billion.Outbound shipments of industrial supplies and materials led the overall increase in exports. Imports of consumer goods climbed by $3.8 billion, to a record high, as the US prepared for increased spending during the holiday season.While indicators have suggested that the US manufacturing sector has enjoyed a steady recovery, the new trade data showed firms increasingly relying on international sources to fulfill domestic demand.Read more: <a href="https://www.businessinsider.com/stock-picks-to-buy-investing-ideas-for-4th-quarter-rbc-2020-10">These 30 global stocks are positioned to stay on top in the 4th quarter as the contrast between a recovering economy and rising COVID cases keeps markets volatile, RBC says</a>President Donald Trump has frequently pointed to the trade deficit as the key gauge of his trade policies' effectiveness. The gap was slowly closing through 2019 before the coronavirus pandemic slammed the global <keyword id="34412" type="ORGANIZATION" weightage="60" keywordseo="economy">economy</keyword>. American firms quickly responded by reducing inventories.As the economy bounced back, companies increased imports and erased last year's narrowing of the trade deficit. Exporting increased as producers recovered, but the pace has not matched US import activity.The wider deficit leaves Trump with little to brag about heading into the 2020 election. The trade shortfall was a tenet of the president's 2016 campaign platform and drove Trump to ignite a trade war with China in 2018.Read more: <a href="https://www.businessinsider.com/stock-picks-for-housing-market-boom-from-hedge-fund-manager-2020-10">A 20-year hedge-fund vet shares the 3 stocks he thinks make the perfect play for a booming housing recovery as the US heads for the suburbs</a>A slew of tariffs on Chinese goods failed to close the trade gap, and several economists have said the aggressive trade policies harmed US workers. Taxes on Chinese imports were frequently passed down to consumers, and retaliatory measures from China weakened US producers' competitiveness.The World Trade Organization ruled in September that the US's tariffs violated international trade rules, finding that they unfairly targeted China and skirted the WTO's dispute-settlement body. Still, the Trump administration's gutting of the WTO's appellate body effectively allows it to veto the decision and avoid enforcement.Read more: <a href="https://www.businessinsider.com/investing-advice-jp-morgan-shares-5-biggest-market-opportunities-q4-2020-10" target="_blank" rel="noopener">JPMorgan's $1.9 trillion asset management firm shares the 5 biggest opportunities it's recommending for clients across markets during the fourth quarter</a>

Trump's favorite trade scorecard posts its worst figure since 2006 as the election looms

<ul class="summary-list"><li>The US <keyword id="113688" type="PERSON" weightage="60" keywordseo="trade-deficit">trade deficit</keyword> in July hit $63.6 billion, the widest point in 12 years, the <a href="https://www.census.gov/foreign-trade/Press-Release/current_press_release/ft900.pdf">Commerce Department reported Thursday</a>.</li><li>The deficit jumped from $53.5 billion in June as <keyword id="35091" type="CITY" weightage="60" keywordseo="imports">imports</keyword> surged a record 10.9% in July to $231.7 billion. </li><li>At the same time, <keyword id="35090" type="COMPANY" weightage="60" keywordseo="exports">exports</keyword> increased 8.1% to $168.1 billion, according to the release. </li></ul>The <keyword id="339316" type="ORGANIZATION" weightage="60" keywordseo="US-Trade">US trade</keyword> deficit in July swelled to its greatest gap since the 2008 financial crisis, <a href="https://www.census.gov/foreign-trade/Press-Release/current_press_release/ft900.pdf">the Commerce department reported Thursday</a>.The US <keyword id="44844" type="ORGANIZATION" weightage="60" keywordseo="Trade">trade</keyword> deficit, or gap between imports and exports, widened nearly 19% to $63.6 billion in July from $53.5 billion in June, according to the report. That surpassed economist estimates that the deficit would reach $58 billion in July, according to Bloomberg data. A record jump in imports drove the deficit — US imports grew 10.9% in July to $231.7 billion. At the same time, exports increased 8.1% to $168.1 billion, according to the release. The report is the latest to show that the US economic recovery from the coronavirus pandemic and ensuing recession has an uncertain path ahead and will likely come in fits and starts. In June, the <a href="https://www.marketwatch.com/story/trade-deficit-falls-75-in-june-but-imports-and-exports-still-way-below-year-ago-levels-2020-08-05">trade deficit narrowed,</a> though imports and exports remained well below pre-pandemic levels. Read more: <a href="https://www.businessinsider.com/investing-strategy-for-small-companies-from-mircocap-expert-ian-cassel-2020-9">'You can make 5, 10, 50x your money': Here's an inside look at the 7-part strategy small-stock expert Ian Cassel is using to unearth the market's most overlooked gems</a>Even with an increase in July, global trade is weaker than it was before the coronavirus pandemic. And, US trade deficits with other countries increased.The US trade deficit with China grew $1.6 billion to $28.3 billion in July, driven by a jump in imports, according to the report. At the same time the US trade deficit with Mexico increased $2.5 billion to $11.5 billion.

US trade deficit in July hits widest point in 12 years

<div class="image-container float_right" style="width:400px"><div class="image"></div><a href="http://www.polb.com/civica/filebank/blobdload.asp?BlobID=4597">Port of Long Beach</a></div>The latest trade balance data is out.
In December, the trade deficit shrank by 20.7 percent to $38.5 billion.
<a href="https://twitter.com/ReutersJamie/status/299873943014236160">Reuters' Jamie McGreever </a>noted that this was the third largest month-over-month swing in history.
Economists expected the deficit to narrow to $46.0 billion.
Much of this shrinkage was due to a huge decline in energy <keyword id="35091" type="CITY" weightage="60" keywordseo="imports">imports</keyword> and a big jump in energy exports. Bloomberg notes that this was the <a href="http://www.bloomberg.com/news/2013-02-08/trade-deficit-in-u-s-plunges-on-record-petroleum-exports.html">lowest petroleum deficit</a> since August 2009.
From TD Securities' Millan Mulraine:
The main driver for the sharp improvement in the deficit was weaker import demand, as the pace of total imports declined 2.7% m/m in December. Domestic demand for imported goods were weaker across the board, with imports of industrial supplies (down 6.9% m/m) particularly weak, adding to the 3.7% m/m drop in auto imports. Petroleum imports were also lower, as both lower energy prices and imported volumes pushed the imported energy bill lower. <keyword id="35094" type="ORGANIZATION" weightage="60" keywordseo="export">Export</keyword> activity, however, rose at a decent 2.1% m/m pace, driven mostly by the 9.6% m/m surge in export of industrial supplies.
<a href="http://www.businessinsider.com/december-international-trade-data-2013-2">Click Here For Updates &gt;</a>

You Searched For "TRADE DEFICIT" and got 13 results

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TRADE DEFICIT WIDENS

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Trade deficit balloons in February

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India is starting to reap short term benefits from the US-China trade battle

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Japan Posts Record Trade Deficit

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India should be worried as this may be the worst quarter for global trade in ten years

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India's trade deficit expected to decline further: Economic Survey

PTI

Trump's favorite trade scorecard posts its worst figure since 2006 as the election looms

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US trade deficit in July hits widest point in 12 years

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Trade Deficit Tanks As Energy Imports Plunge

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