ECONOMICS (CBSE/UGC NET)

Detailed explanation-1: -A study of a country’s imports and exports of products and services is known as the composition of trade. In another sense, it provides information on a country’s imports and exports of commodities. As a result, it reveals a nation’s structure and level of economic development.

Detailed explanation-2: -Composition of foreign trade means goods that we are exporting and goods that we are importing. Therefore, composition of trade consists of composition of exports as well as composition of imports. (a) Composition of Imports. Composition of imports means goods that we are buying from other countries.

Detailed explanation-3: -The statistical analysis of a country’s product groups in its international trade is often referred to as the ‘composition of trade’. This can be carried out for the trade with all the countries in the world collectively or individually, with a group of countries, or a particular country.

Detailed explanation-4: -Composition of India’s Exports Engineering goods (26.9 percent of total exports) Petroleum products (14.8 percent) Gems & Jewelry (9.4 percent) Organic & inorganic chemicals (7.1 percent)

Detailed explanation-5: -Importing and Exporting are means of Foreign Trade. Foreign trade is carried out in goods and services – which includes imports, exports, and the balance of foreign trade – is presented separately for goods and for services.