New Delhi, May 12 (IANS) The global fuel price shock has shattered Pakistan because of the country’s heavy reliance on imported energy and its weak balance-of-payments position, taking its monthly trade deficit ballooned to $4.07 billion in April, according to a new report.The April figures are Pakistan’s highest level since June 2022, further straining the fragile economy, reports Dawn.The massive 43.5 per cent month-on-month jump in the trade gap “was anticipated due to energy supply dis…
Latest Trade deficit News & Updates
New Delhi, May 11 (IANS) Prime Minister Narendra Modi’s appeal for a one-year economic adjustment framework makes sense, which is aimed at managing short-term stress and likely recover over the next nine months, a top banker said on Monday.In an interview with IANS, Dr Dharmesh Bhatia, Director–Wealth Management at Dubai-based Emirates Investment Bank, said such temporary disruptions are part of normal economic cycles, and can be offset in the broader recovery phase if policy and macro condi…
Washington, May 6 (IANS) The United States trade deficit widened in March as imports outpaced exports, even as the American goods gap with India narrowed compared to the same period last year, according to official data.The US Census Bureau and the Bureau of Economic Analysis said the overall goods and services deficit rose to $60.3 billion in March, up $2.5 billion from a revised $57.8 billion in February.US exports in March stood at $320.9 billion, an increase of $6.2 billion from February, wh…
New Delhi, April 30 (IANS) While the West Asia conflict constitutes a significant supply shock, India’s domestic demand, policy buffers, resilient financial system, and sustained public investment provide some insulation, according to the Finance Ministry’s monthly economic review for April.While supply-side stresses are becoming increasingly evident, the report said demand conditions in March, as evident from retail vehicle sales as well as tractor sales, still appear reasonably robust. “…
New Delhi, April 26 (IANS) Commerce and Industry Minister Piyush Goyal will hold a crucial meeting with export promotion councils and industry bodies on April 27 to discuss strategies to boost outbound shipments, amid growing concerns over declining exports and geopolitical disruptions.The meeting comes at a time when Indian exporters are facing headwinds due to the ongoing tensions in West Asia, triggered by the conflict involving the US, Israel and Iran.Industry sources said the situation has …
Washington, April 23 (IANS) US Trade Representative Jamieson Greer mounted a strong defence of the Trump administration’s trade policy, telling lawmakers that tariffs and aggressive negotiations were beginning to deliver tangible gains for American workers and industry.Appearing before the House Ways and Means Committee, Greer said the administration’s approach marked a decisive break from past policies that, in his view, encouraged offshoring and weakened domestic manufacturing.“We’re exp…
New Delhi, April 16 (IANS) The trade deficit widening has been pushed out rather than avoided, a report showed on Thursday, adding that if the energy shock persists and Brent oil prices stays elevated, the deficit is likely to widen in the coming months.India’s goods trade deficit came in at $20.7 billion in March, much lower than last month’s $27 billion deficit. The March deficit is usually slightly narrower, but markets expected it to widen this time as Brent is up 60 per cent YoY due to the …
Bogota, April 11 (IANS) Colombia’s trade ministry said that it will raise tariffs on imports from neighboring Ecuador to 100 per cent from 30 per cent, matching a decision made a day earlier by Quito, as tensions between the two countries escalate.Trade Minister Diana Morales said on Friday in a statement that Ecuador’s latest tariff hike from 50 per cent to 100 per cent forced Colombia to align its policy, accusing the Quito move of distorting competition and harming domestic producers of both …
Washington, April 3 (IANS) The United States recorded a goods trade deficit of $54.91 billion with India over the past 12 months, placing it among Washington’s top deficit partners even as the overall US trade gap widened in February, according to official data.The monthly figures showed the US trade deficit rose to $57.35 billion in February, up $2.67 billion from January, though still 11 percent below the 12-month average.The increase came as imports grew faster than exports. Total exports s…
New Delhi, March 20 (IANS) Economic fragility in Pakistan has reached a critical stage following the US–Israel war with Iran due to the drastic escalation in oil prices and the surge in the trade gap, a Pakistani media report said.In terms of per capita income, economic growth rate, dwindling exports and low foreign exchange reserves, Pakistan is in dire straits, according to an article in the Lahore-based Friday Times.Pakistan’s economic fragility is reflected in its GDP growth rate, which …