India's trade balance is quiet poor when compared to its peers.

India's current account deficit has been in the limelight in recent times because of the impact it has had on the rupee. The latter has steadily declined against the US dollar and touched a record low of 61.6. The problem is further compounded by the fact that India still imports quite a lot of oil. And when the time for payment comes, the demand for dollars rises, further exerting pressure on the rupee. Today's chart of the day shows, that India's trade balance is quite poor when compared to its peers. Only the US fares much worse than India. The country's BRIC peers notably China, Russia and Brazil have generated surpluses. While the Indian government has been focusing on improving the country's energy security so that the dependence o n imports reduces, it also needs to put plans in place to make exports more competitive.

 

                           

                              *Data for China, Brazil, India is till June 2013. For the rest it is till May 2013
                                                  Data Source: The Economist