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Monday, May 24, 1999
Figure watch
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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