India has trade deficit with 27 nations Monday May 09,2016

India has a trade deficit with as many as 27 major countries, including China, Australia, Iraq and Iran, during the last three years, Commerce and Industry Minister Nirmala Sitharaman said in a written reply to the Lok Sabha.

She said India generally runs a deficit with those countries from which high-demand commodities are sourced. These include items like crude oil, gold, diamond and fertiliser. 

In 2015-16, India’s trade deficit fell 14%  to $118.35 billion.

Other countries with which India has a trade gap include Indonesia, Korea, Germany, Canada, Taiwan, Russia and Ukraine.

In a separate reply, she said India’s exports have been adversely affected by recessionary trends across the globe, including in the EU and the US