ISSN (Print) - 0012-9976 | ISSN (Online) - 2349-8846

A+| A| A-

Macroeconomic Indicators (10 April 2010)

India's external sector has derived significant strength from invisibles in its balance of payments, which have risen from 2.9% of GDP in 1999-2000 to 7.8% of GDP in 2008-09. Covering about 76% of the deficit on the trade account, invisibles softened its adverse impact on the current account deficit. Among the components, workers' remittances increased more than threefold from $14.3 billion in 2001 to $51.6 billion in 2008. Computer and information services exports rose by about eight times from $6.8 billion to $48.3 billion during the same period, ranking first among major countries.

Dear reader,

To continue reading, become a subscriber.

Explore our attractive subscription offers.

Click here

Comments

(-) Hide

EPW looks forward to your comments. Please note that comments are moderated as per our comments policy. They may take some time to appear. A comment, if suitable, may be selected for publication in the Letters pages of EPW.

Back to Top