Question
Study the following table and answer the question.

Table A : Trade data for period 2009 – 10 to 2017 – 18
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QU 1. In which year export growth was least and how much?
QU 2. In which year import growth was maximum and how much?
QU 3. During which year trade balance was minimum?
QU 4. Which concept of Balance of Trade is applicable here?
QU 5. How much was India’s export value in the year 2017-18?
QU 6. Give your opinion on India’s foreign trade.

Answer

ANS 1. In the year 2015-16, export growth was least and it was -9.49%.
ANS 2. In the year 2011-12, import growth was maximum and it was 39.32%.
ANS 3. In the year 2009-10 trade balance was minimum.
ANS 4. The concept of trade deficit is applicable here, because in the above data every year India’s imports are more than its exports.
ANS 5. In the year 2017-18 India’s export value was ? 19,56,515 crores.
ANS 6. Above data shows that every year India’s trade balance is deficit. It means imports are more than exports. The Government should formulate such policies that increases our export and reduces our imports.

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