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Exhibit I as under provides the data of India's Merchandize Imports (Billion US Dollar) on left axis and Percentage of Food: Fuel, Manufactures and Ores & Metals lmports of India's on the right axis. Similarly; Exhibit 2 provides data of India's Merchandize Exports (Billion US Dollar) on left axis and Percentage exports of Food, Fuel, Manufactures and Ores & Metals on the right axis. Attempt the questions in the context of information provided as under:
A.Trade Balance = Import Minus Exports
b:Trade Deficit If Imports are more than Exports
c:TradeSurplus= If Exports are more than Imports
Exhibit 1: India's Total Merchandize Imports (US Dollar in Billion) and Percentage Imports of Food, Fuel, Manufacturers and Ores and Metals (2012 - 2016)
Exhibit 2: India's Total Merchandize Exports (US Dollar in Billion) and Percentage Exports of Food, Fuel, Manufacturers and Ores and Metals (2012 - 2016)
What is the proportion of positive and negative Manufactures trade balance in the period 2012-2016 ?
Trade balance = Imports - Exports
For 2012:
Manufactures Trade balance = Manufactures import - manufactures export
= 500*(35/100) - 275*(65/100) = -3.75 (From Graph)
For 2013:
Manufactures Trade balance = 475*(40/100) - 350*(60/100) = -20
For 2014:
Manufactures Trade balance = 450*(45/100) - 325*(55/100) = 23.75
For 2015:
Manufactures Trade balance = 375*(50/100) - 275*(70/100) = -5
For 2016:
Manufactures Trade balance = 350*(55/100) - 250*(75/100) = 5
Number of positive trade balances = 2
Number of negative trade balances = 3
Proportion of positive and negative trade balances = 2:3
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