Current Affairs

Decline in Import and Exports

Current context: Indian exports and Import saw a decline of 9.71% to $25 billion and 9% to $40.29 billion respectively in June 2019
Decline in Import and Exports
  • Reasons for the downfall of exports are fall in shipments of engineering goods, handicrafts, petroleum products, gems and jewellery, marine products etc.
  • The decline is said to be due to the base effect of an extraordinary month of June 2018
  • The exports are also affected by certain global trends as the World Bank also projected weakening of global trade in its Global Economic Prospects (June 2019)
  • Temporary shutdown of ONGC Mangalore Petrochemical Ltd. Is also sought to impact the export of petroleum products by the Ministry
  • Fall in the global price of steel affected the engineering goods

Question: 

Q.1 Global Economic Prospects report is released by?
a. World Economic Forum
b. IMF
c. World Bank
d. OECD
Decline in Import and Exports Decline in Import and Exports Reviewed by Neha on July 16, 2019 Rating: 5

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