Economic Survey 2018-19 Highlights - Part III: Here Here
Economic Survey 2018-19 Highlights - Part III: Here Here
Economic Survey 2018-19 Highlights - Part III: Here Here
Why in news?
The Union Minister for Finance and Corporate Affairs, Ms. Nirmala Sitharaman
tabled the Economic Survey 2018-19 in the Parliament.
EXTERNAL SECTOR
World Trade - As per WTO, World trade growth has slowed down to 3% in
2018, much below the growth rate of 4.6% in 2017.
This was mainly because of -
i. the introduction of new and retaliatory tariff measures
ii. heightened US-China trade tensions
iii. weaker global economic growth
iv. volatility in financial markets
Import - The income terms of trade is a metric that measures the purchasing
power to import.
This has been on a rising trend, possibly because the growth of crude prices
has still not exceeded the growth of India’s export prices.
Exchange rate in 2018-19 has been more volatile than in the previous year.
This was mainly due to volatility in crude prices, but not much due to net
portfolio flows.
Trade composition - Composition of India’s exports and import basket in
2018-19 (P):
The composition of India’s exports and import basket has almost remained
unchanged in 2018-19 over 2017-18.
Petroleum products, precious stones, drug formulations, gold and other
precious metals continue to be top export items.
Crude petroleum, pearl, precious, semi-precious stones and gold remain as
top import items.
INDUSTRY
INFRASTRUCTURE
SERVICES SECTOR