Q: What is the total foreign trade value of India during the first half of 2023?
A: The total foreign trade value of India during the first half of 2023 exceeded $800 billion.
Q: How did exports of goods and services perform during this period?
A: Exports of goods and services increased by 1.5% to $385.4 billion from January to June, compared to the same period in 2022.
Q: What about imports during this period?
A: Imports experienced a decline of 5.9%, reaching $415.5 billion for the first six months of the year, down from $441.7 billion in the previous year.
Q: Were there variations in goods exports and imports separately?
A: Yes, standalone goods exports saw an 8.1% decrease to $218.7 billion, while imports of goods contracted by 8.3% to $325.7 billion.
Q: How did services exports and imports perform?
A: Services exports showed strong growth, rising by 17.7% to $166.7 billion. Imports of services also increased by 3.7% to $89.8 billion during the same period.
Q: What role did the services segment play in the trade growth?
A: The healthy growth in India's services segment played a significant role in driving the country's total exports and imports across the $800-billion mark.
Q: What was the growth rate of foreign trade in comparison to the previous year?
A: India's foreign trade during the first half of 2023 exhibited a decline of 2.5% over the same period in the previous year (January-June 2022).
Q: What think tank provided this information?
A: The information was reported by the Global Trade Research Initiative (GTRI).
Q: Despite global demand slowdown, what contributed to India's trade performance?
A: The growth in India's services segments helped boost the country's overall trade performance despite the slowdown in global demand.
Q: How did the report break down the performance of exports and imports?
A: The report detailed the growth and contraction percentages of both goods and services exports and imports for the specified periods.
