India's Trade Deficit Shrinks as Gold Imports Fall
Listen to the story
India sold more goods to other countries in August.
This is called an export. Exports grew by 25.4 percent.
India also buys goods from other countries. This is called an import.
India's gold imports went down a lot in August.
Gold is a costly import for India. Less gold buying helps the country.
The trade deficit is the gap between imports and exports.
A trade deficit means a country buys more than it sells.
India's trade deficit became smaller in August.
One report says the gap was $9.41 billion.
Another number shows the gap at $26.86 billion.
This is less than $27.2 billion from last year.
The smaller gap is good news for India's economy.
Vocabulary3 words
- export
- something a country sells to other countries
- import
- something a country buys from other countries
- trade deficit
- when a country buys more than it sells
Quiz
Answer key
1. They grew by 25.4 percent 2. They plunged 3. False
Fill-in-the-blank listening
Play the audio again and fill in the missing words as you listen.
India sold more goods to other countries in _____.
This is called an _____. Exports grew by 25.4 percent.
India also buys goods from other countries. This is called an _____.
India's gold _____ went down a lot in August.
Gold is a costly import for India. Less gold buying helps the _____.
The trade _____ is the gap between imports and exports.
India's trade deficit became _____ in August.
One report says the gap was $9.41 _____.
This is less than $27.2 billion from last _____.