Indian Export Rises, Trade Deficit Soars

The only good news was for U.S. as their trade deficit decreased by 12.4 percent. Even though the country is facing unemployment problems, they have managed to decrease their deficit, and their government led by Barack Obama is making plans to boost trade with fast growing nations like Latin America.

Every nation has expressed their possible reason for their trade deficit, India is facing trade deficit due to high oil imports as the world prices for crude oil have risen to $110. China states the reason as the rising cost of imported equipments, consumer goods and raw materials but was able to achieve their trade surplus last month

Similarly, Japan is still recovering from its natural calamities, first tsunami followed by an earthquake, left a deep impact on their trades, thus resulting a trade deficit but they are working hard on improving their trade problems and will soon overcome the deficit.