Question

Which of the following statement(s) is/are correct regarding import and export of India and Brazil?

• A. India mostly has a negative balance of trade.
• B. Brazil mostly had a negative balance of trade between 2009-13.
• C. Nearly 75% of Brazil's GDP comes by trade.
• D. Around 40-45% of India's GDP depends on trade.

Answer 1

Answer: (A), (D)

Around 40-45% of India's GDP depends on trade.

While the volume of import and export of Brazil is comparatively less than India, they earn a huge favourable trade balance as compared to India, which mostly imports more than export. It is mainly due to many factors like quality and the cheapness of the product which attract the market of any country. Brazil's GDP depends on trade by 25-30%. India's GDP depends on trade by 40-45%.