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  • For evaluating countries performance on the international front India prepares Balance of trade and Balance of payments.
  • Balance of trade is the statement showing balance of merchandise trade only.
  • Balance of payment includes other transactions such as capital transactions, balance on account of service transactions, gold transactions, etc.
  • India’s current account position during 2009-10 continued to reflect the impact of the global economic downturn and decelaration in world trade.
  • India now has well diversified trade. Asia and ASEAN have become important trade partners of India compared to European countries and USA.

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