Unctad Report News Today : Breaking News, Live Updates & Top Stories | Vimarsana

Despite global economic uncertainties, India's services exports surged by 11.4% to $345 billion in 2023, outpacing China, whose shipments from the sector shrank by 10.1% to $381 billion, as per a UNCTAD report. Key sectors driving India's growth include travel, transport, medical, and hospitality services. The world's services exports, exceeding $7.9 trillion in 2023 with an 8.9% annual increase in current dollar value terms, were led by developing economies like India, China, Singapore, Turkiye, Thailand, Mexico, and Saudi Arabia. However, India's services imports dipped marginally by 0.4% to...

India's imports from China saw a 3% decline in calendar year 2023 compared to 2022, according to the commerce and industry ministry. Meanwhile, exports to both China and the EU increased by 7.1% and 2.1%, respectively, during the same period. This announcement follows a recent report by the United Nations Conference on Trade and Development (UNCTAD) showing that India's trade dependence on China and the EU increased in 2023.

Container tonnage crossing the Suez Canal fell by 82 percent between Dec. 1 and Feb. 12, cited the U.N.'s trade body in a new report.

Rising interest rates, weakening currencies and sluggish export growth have combined to squeeze the fiscal space for essential needs.

The current account deficit (CAD) narrowed sharply to 2.2% of the gross domestic product (GDP) in the three months ended December (Q3FY23) from 3.7% in Q2