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Exim data revised, trade deficit narrows by $10 billion

Exim data is a positive development for the Indian economy, as it provides a more accurate picture of the country's trade performance. The revised figures show that India's exports have performed better than previously reported, and the country's trade deficit is lower than earlier estimates. This is a testament to the resilience of India's exporters, who have been able to navigate the challenges posed by the pandemic and global economic slowdown.

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Exim data revised, trade deficit narrows by $10 billion

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  1. Exim data revised, trade deficit narrows by $10 billion

  2. Trade Deficit in 2020-21 • India's Ministry of Commerce and Industry recently revised its Export-Import (Exim) data, resulting in a significant reduction in the country's trade deficit. The revised data shows that India's trade deficit for the financial year 2020-21 is $10 billion lower than previously reported, with the revised trade deficit standing at $84.78 billion according to Exim data. • The revision of Exim data was a result of discrepancies in the figures reported by various government agencies. The Ministry of Commerce and Industry conducted a comprehensive review of the data and reconciled the figures to arrive at the revised numbers. The revision covers the period from April 2020 to January 2021. • The revised Exim data showed that India's exports during the period were $290.18 billion, compared to the earlier reported figure of $257.33 billion by Exim data. This is a significant increase of $32.85 billion, or 12.77%. Meanwhile, India's imports were revised down to $375.96 billion, compared to the earlier reported figure of $340.75 billion. This is a decrease of $35.21 billion, or 10.33%.

  3. The revision Exim has led to a significant reduction in India's trade deficit, which was earlier reported to be $94.32 billion. According to Exim data, the revised figure of $84.78 billion represents a decrease of $9.54 billion, or 10.12%. • The revision of Exim data is significant as it provides a more accurate picture of India's trade performance. The earlier reported figures had suggested that India's trade deficit was increasing, which could have had a negative impact on the country's economy. However, the revised data shows that India's exports have performed better than previously reported, and the country's trade deficit is lower than earlier estimates. • The revised Exim data also shows that India's exports have been resilient during the pandemic, with several sectors posting positive growth. For example, India's pharmaceutical exports grew by 18.41% to $24.44 billion, while engineering goods exports grew by 8.46% to $60.15 billion. Other sectors that showed positive growth include agriculture, chemicals, and textiles.

  4. The growth in exports is a positive development for the Indian economy, as it will help to create jobs and boost economic growth. It is also a testament to the resilience of India's exporters, who have been able to navigate the challenges posed by the pandemic and global economic slowdown. If you need the best export import data provider, connect with us. • The revision of Exim data is also likely to have a positive impact on India's balance of payments. A lower trade deficit will help to reduce the country's reliance on foreign capital inflows and improve its external position. This, in turn, will help to stabilize the rupee and reduce the risk of a balance of payments crisis. • However, the revision of Exim data also highlights the need for better coordination between government agencies and the need for greater transparency in reporting. Discrepancies in data can have a significant impact on policy decisions and the overall economic outlook. It is essential that the government takes steps to ensure that data is accurate and reliable and that agencies work together to prevent discrepancies from occurring in the future.

  5. How to Get Exim data? • In conclusion, the revision of Exim data is a positive development for the Indian economy, as it provides a more accurate picture of the country's trade performance. The revised figures show that India's exports have performed better than previously reported, and the country's trade deficit is lower than earlier estimates. This is a testament to the resilience of India's exporters, who have been able to navigate the challenges posed by the pandemic and global economic slowdown. Eximpediais the best data dashboard or import export data provider to analyse global trade statistics, connect today to explore more about Exim data in detail. Book a free demo today!

  6. Eximpedia • For free sample data report and free live demo data search • Contact no.: 9990020716, +16075244100 • Email: info@eximpedia.app • Website: www.eximpedia.app

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