(EnergyAsia, July 14) — Rising oil prices have been blamed for driving India’s trade deficit to a record high and for turning its current account surplus into a deficit in the last financial year. India’s trade deficit rose to US$38.1 billion for the financial year to March 31 2005, compared with US$15.1 billion the…
INDIA: Oil weighs in as trade deficit hit record high of US$38.1 billion in FY2004
Posted on July 14, 2005 by EnergyAsia