CURRENT AFFAIRS

Detailed explanation-1: -India’s May trade deficit widens to $24.29 billion - trade ministry.

Detailed explanation-2: -The merchandise trade deficit for April-December 2022 was estimated at USD 218.94 Billion as against USD 136.45 Billion in April-December 2021.

Detailed explanation-3: -India’s merchandise trade deficit in December widened to $23.89 billion as against $21.10 billion year-on-year (YoY). However, the number was largely flat as compared to $23.89 billion in the previous month, according to the data released by the commerce ministry on Monday.

Detailed explanation-4: -The goods deficit decreased $2.9 billion in May to $105.0 billion. The services surplus decreased $1.7 billion in May to $19.4 billion. Exports of goods and services increased $3.0 billion, or 1.2 percent, in May to $255.9 billion.

Detailed explanation-5: -"India’s current account balance recorded a deficit of USD 36.4 billion (4.4 per cent of GDP) in Q2:2022-23, up from USD 18.2 billion (2.2 per cent of GDP) in Q1:2022-23 and a deficit of US$ 9.7 billion (1.3 per cent of GDP) a year ago [i.e., Q2:2021-22],” the RBI said.