Today’s Current Affairs: India’s Trade Deficit Widens to Four-Month High in April
India’s trade deficit reached a four-month high of $19.1 billion in April, with exports increasing marginally to $35 billion and imports rising to $54.1 billion. Gold imports tripled to $3.1 billion, while oil imports surged by over 20% to $16.5 billion. Electronics and other commodities also saw significant growth in imports. On the export front, electronic goods performed well with a near-26% growth, while engineering goods lagged behind. Overall, the new fiscal year started on a positive note, with total exports projected to reach a record $778.2 billion in 2023-24.
1. What was India’s trade deficit in April?
– A. $16.5 billion
– B. $19.1 billion
– C. $21.3 billion
– D. $25.7 billion
Answer: B. $19.1 billion
2. Which sector saw the highest growth in exports in April?
– A. Engineering goods
– B. Electronic goods
– C. Drugs and pharma
– D. Chemicals
Answer: B. Electronic goods
3. What was the value of gold imports in April?
– A. $2.1 billion
– B. $3.1 billion
– C. $4.5 billion
– D. $5.9 billion
Answer: B. $3.1 billion
4. What was the total value of India’s exports and services in 2023-24?
– A. $600.3 billion
– B. $700.9 billion
– C. $778.2 billion
– D. $850.5 billion
Answer: C. $778.2 billion
What was India’s trade deficit in April?
India’s trade deficit in April widened to a four-month high of $19.1 billion.
What were the total exports and imports in April?
Goods exports rose just over 1% to $35 billion, while imports increased over 10% to $54.1 billion.
Which imports saw a significant increase in April?
Gold imports trebled to $3.1 billion, while electronics imports went up 10% to top $7 billion.
Which sectors showed growth in exports in April?
Electronic goods were the top performer with nearly 26% growth to $2.7 billion. Drugs and pharma had a 7.4% growth to $2.4 billion, and chemicals saw a 16.8% rise to $2.5 billion.
Today's current affairs report that India's trade deficit has widened to a four-month high of $19.1 billion in April. This increase is due to a rise in imports by over 10% to $54.1 billion, while exports only saw a slight increase of just over 1% to $35 billion. Gold imports tripled to $3.1 billion, while electronics imports went up 10% to $7 billion. On the export front, electronic goods were the top performer with a near-26% growth to $2.7 billion. However, engineering goods, the largest item in India's export basket, saw a decline of 3.2% to $8.7 billion. Overall, the Commerce secretary is optimistic about the new fiscal year, with total exports of goods and services for 2023-24 being revised to a record $778.2 billion.
