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India’s exports: The country’s exports increased by 42.33 percent in October, know what was the condition of trade deficit

India’s Export Rise: India’s exports of goods grew 42.33 percent to $ 35.47 billion in October. This information has been received from the initial data released by the government on Monday. Exports stood at $24.92 billion in October 2020 and $26.23 billion in October 2019. According to an official statement, “India’s goods exports stood at $35.47 billion in October, 2021, an increase of 42.33 percent from $24.92 billion in October, 2020 and 35.21 percent from $ 26.23 billion in October, 2019.”

Know how much was the trade deficit?
During this, the country’s imports also increased by 62.49 percent to $ 55.37 billion from $ 34.07 billion in October 2020. It was $ 37.99 billion in October 2019. According to the data, the trade deficit stood at $19.9 billion in October, 2021 and $98.71 billion during April-October, 2021.

gold imports increased
Let us tell you that in October this year, gold imports stood at $5.1 billion, which was $2.49 billion a year ago. An increase of 104.25 percent has been seen in this.

Why does the trade deficit increase?
Let us tell you that if the country’s trade deficit increases, it means that the country has imported more than exports. At the same time, if the trade deficit of any country continues to increase for a long time, then it is not good news for the economy of that country.

Have to spend more foreign exchange reserves
Let us tell you that due to increasing trade deficit, the country has to spend more foreign exchange reserves. In fact, foreign exchange is earned through exports while the opposite happens in the case of imports. Foreign exchange reserves are spent in imports.

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