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EXPRESS NEWS SERVICE
India has the dubious distinction of having a negative trade balance that is equivalent to the trade deficits of three regions put together -- Middle East, Africa and West Europe. The country's trade deficit increased by US $ 1.4 billion during April 1998 and February 1999, as compared to the 1997-98 figures. However, during March 1999, exports grew by 10 per cent. And after three months of decline, imports grew by 2 per cent during the same month. Also, during March 1999, the trade deficit at US $ 0.2 billion turned out to be the lowest deficit in a month during the fiscal year 1998-99. Improvement in growth in exports and contraction of imports from November 1998 resulted in lower deficit in the subsequent months.
Copyright © 1999 Indian Express Newspapers (Bombay) Ltd.
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This story was printed from Net Express located at http://www.expressindia.com. Net Express provides a portal to India, with news from The Indian Express and The Financial Express along with sites on travel and tourism, the entertainment industry, the power sector, the environment and much more.
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