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in Open Economy Macroeconomics by (25.6k points)
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What is trade deficit? Calculate the trade deficit from the following data.

Current Account ₹ in crores
1. Trade in goods
a) Export of goods +90,6660
b) Import of goods -1,20,364
2. Trade in services
a) Export of services +28,990
b) Important of services -25,350
3. Net income flow -790
4. Net transfer -4,400

1 Answer

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Trade deficit is the difference between export of goods and import of goods in trade in goods in current account. It is the situation where import is greater than export. Export of goods = 90,660 Import of goods = 1,20,364 – 90,660 = 29,704 crores

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