Trade Deficit Between India and US Reduced by 7%

The trade deficit between India and the US decreased by $1.6 billion, almost seven per cent, in 2018 as compared to the previous year, according to the latest official figures.

India recorded a decrease in the deficit from $22.9 billion in 2017 to $21.3 billion in 2018, according to the latest figures revealed by the Bureau of Economy Analysis.

The US trade deficit in goods and services increased by $9.5 billion from $50.3 billion in November to $59.8 billion in December, according to the figures.

For 2018, the US goods and services deficit was $621.0 billion, up $68.8 billion from $552.3 billion in 2017.