India Trade Deficit Shrinks to 20.98 Billion in March
India recorded a 20.98 billion dollar trade deficit in March. The figure came in below economist expectations of 32.75 billion and the previous month total.
India reported a merchandise trade deficit of $20.98 billion for March, significantly outperforming market expectations. According to calculations based on government data released on Wednesday, the trade gap narrowed from the $27.1 billion deficit seen in February.
The result was much lower than the $32.75 billion deficit predicted by economists in a Reuters poll. This unexpected narrowing suggests a shift in the balance between imports and exports as the month concluded. The data provides a snapshot of the nation's trade health, though detailed sector performance was not immediately available in the preliminary report.
