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Decline in Import and Exports

Published on July 16, 2019
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
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