India Balance of Trade from March 2011 to March 2012
Indian imports continued to outpace exports in February as demand remained weak in major exports markets like the United States and Europe, nudging the government to revise up the full-year trade deficit projections on Friday.
With exports struggling to maintain the growth rate seen between April and September, Khullar revised up trade deficit projection for the fiscal year ending on March 31 to $175 to $180 billion from an earlier estimate of $160 billion.
Crude-oil futures declined on Monday as investors parsed China’s surprisingly large trade deficit and its implications for the global economy and oil demand.
China reported a much bigger-than-expected trade deficit of $31.48 billion in February, turning around sharply from a $27.28 billion surplus in January.