Economics
India’s Trade Balance Returns to Deficit After Rare Surplus
- Imports dropped 28% from a year ago, exports fell 10%
- Pick up in imports crucial amid uneven economic recovery
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India‘s trade balance went back into deficit in July as inbound shipments picked up slightly from the previous month as the economy gradually reopened.
Exports fell 10.2% from a year earlier and the drop in imports eased to 28.4%, leaving a trade deficit of $4.83 billion, according to data from the Commerce Ministry Friday. That compares with the median estimate of a $1.9 billion deficit in a Bloomberg survey of 19 economists.