Yubi Daily Wrap

Macro Updates

India’s trade deficit narrowed to $17.43 billion, 13 month low, as imports declined by 8.2% and exports slowed by 8.8% Y-o-Y. This bespeaks of declining domestic and global demand as central banks continue with monetary tightening to deal with price pressures. Meanwhile, service exports registered robust growth of 36.9%, which should enable some moderation in the current account deficit.

March 16, 2023

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