|Low||$65.03 B||$56.44 B||
India's Imports reflect the US dollar value of imported goods. The dollar calculation of the export value provides for a proper comparison of India's exports with other countries and a correct evaluation of trade statistics. Economists use the indicator to evaluate the structure and intensity of trade flows.
The main items of Indian imports include crude oil, gold, coal, machinery and phones. Most products are imported from China, the US, Saudi Arabia, the UAE and Iraq. Imports have tend to decline in recent years, which is connected with the government's initiative "Make In India".
A nation importing more goods and services than it exports has a trade deficit. However, the impact of Indian imports on rupee quotes is ambiguous and depends on the context of business cycles and other economic indicators, such as production dynamics. For example, in economy recession conditions, countries begin to export more in order to create jobs. Conversely, if the economy grows rapidly, developed countries prefer to develop imports in order to ensure price competition. This may influence rupee quotes accordingly.
A buyer in import transactions is forced to purchase foreign currency in order to pay for the goods, so the growth of imports may have a negative effect on Indian rupee quotes. Conversely, lower than expected import readings can be seen as positive for the INR quotes.
The chart of the entire available history of the "India Imports" macroeconomic indicator. The dashed line shows the forecast values of the economic indicator for the specified dates.
A significant deviation of a real value from a forecast one may cause a short-term strengthening or weakening of a national currency in the Forex market. The threshold values of the indicators signaling the approach of the critical state of the national (local) economy occupy a special place.
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