ECONOMICS
BALANCE OF PAYMENTS
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Exports = rupees 1000 lakh imports = 16 50 lakh, balance of trade shows
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Surplus of rupees 650 lakh
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Deficit of rupees 650 lakh
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Balance of rupees 2650 lakh
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None of these
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Explanation:
Detailed explanation-1: -650 lakh. the negative sign implies that there is a deficit as imports are greater than exports. Thus, the balance of trade shows a deficit of Rs. 650 lakh.
Detailed explanation-2: -Imports = Exports-Balance of Trade = 500-(-600) = 1, 100. Q.
Detailed explanation-3: -So, Exports = Balance of trade + Imports = (−5000)+9000=Rs. 4000 crores.
Detailed explanation-4: -Balance of Trade in India averaged-3.31 USD Billion from 1957 until 2023, reaching an all time high of 0.79 USD Billion in June of 2020 and a record low of-30.00 USD Billion in July of 2022.
Detailed explanation-5: -Exports = Balance of Trade + Imports =-4, 000 + 10, 000 = 6, 000.
There is 1 question to complete.