Nominal External Balance of Goods and Services for India
NNXGSNSAXDCINQ • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
-404,546.10
Year-over-Year Change
-79.62%
Date Range
4/1/2004 - 1/1/2025
Summary
The Nominal External Balance of Goods and Services for India measures the difference between the value of India's imports and exports. This metric is a key indicator of India's international trade position and economic competitiveness.
Analysis & Context
This economic indicator provides valuable insights into current market conditions and economic trends. The data is updated regularly by the Federal Reserve and represents one of the most reliable sources for economic analysis.
Understanding this metric helps economists, policymakers, and investors make informed decisions about economic conditions and future trends. The interactive chart above allows you to explore historical patterns and identify key trends over time.
About This Dataset
The Nominal External Balance of Goods and Services for India represents the balance of trade in goods and services between India and the rest of the world. It is a widely used statistic for assessing India's external sector performance and overall economic health.
Methodology
This data is calculated by the Reserve Bank of India based on India's balance of payments accounts.
Historical Context
Economists and policymakers closely monitor India's external balance to gauge the nation's export performance, international competitiveness, and overall macroeconomic stability.
Key Facts
- India recorded a trade deficit of $26.7 billion in 2022.
- The external balance has been in deficit for India since the 1970s.
- Improving the external balance is a key policy goal for the Indian government.
FAQs
Q: What does this economic trend measure?
A: The Nominal External Balance of Goods and Services for India measures the difference between the total value of India's imports and exports of goods and services.
Q: Why is this trend relevant for users or analysts?
A: This metric is a critical indicator of India's international trade position, export competitiveness, and overall macroeconomic health.
Q: How is this data collected or calculated?
A: The data is calculated by the Reserve Bank of India based on India's balance of payments accounts.
Q: How is this trend used in economic policy?
A: Policymakers and economists closely monitor India's external balance to assess the nation's export performance, international competitiveness, and overall macroeconomic stability.
Q: Are there update delays or limitations?
A: The data is published with a lag, and there may be revisions to historical figures over time.
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Citation
U.S. Federal Reserve, Nominal External Balance of Goods and Services for India (NNXGSNSAXDCINQ), retrieved from FRED.