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A Relationship among the Exports, Imports and GDP in India during 2011-2023


Ram Bhadra Tripathi
Pages: 47-58
ISBN: 978-93-5834-596-4


Advanced Trends in Commerce and Management (Volume -7)

Advanced Trends in Commerce and Management
(Volume - 7)

Abstract

This paper is examine the relationship between exports, imports and GDP in India during 2011-2023. The empirical result indicates that the elasticity of GDP to exports have been shown negative for overall periods as well as for the years (2014, 2015, 2019 and 2023) while other years were noted positive elasticity of GDP to exports. At the same time, the elasticity of exports to GDP was observed positive for overall periods as well as for years (2012, 2013, 2016, 2017, 2018, 2020, 2021 and 2022) whereas other years have found negative elasticity of exports to GDP. Further, the elasticity of GDP to imports were noted positive for overall periods as well as for the years (2012, 2013, 2014, 2016, 2017, 2018, 2020, 2021 and 2022) although the negative elasticity observed for the years (2015, 2019 and 2023). At the same time, the elasticity of imports to GDP was noted positive for overall periods as well as for the years (2012, 2013, 2014, 2016, 2017, 2018, 2020, 2021 and 2022) but the negative elasticity observed for the years (2015, 2019 and 2023). Thus, it is conclude that elasticity is positive for exports to GDP, GDP to imports and imports to GDP while elasticity is negative for GDP to exports in overall periods (2011-2023). The average annual growth has been observed 6.89% for exports, 6.75 for imports and 9.68 for GDP for overall periods i.e. 2011-2023. Further, the first sub period (2011-2017), the average annual growth was noted 3.60% for exports, 2.08 for imports and 11.02 for GDP whereas in second period (2018-2023) the average annual growth was noted 11.70% for exports, 12.26 for imports and 9.38 for GDP. Thus, the average annual growth of exports and imports have been observed higher during 2018-2023 as comparison for period 2011-2017 but the average annual growth for GDP was noted higher during 2011-2017 and lower during 2018-2023. Hence, the policy maker need to develop the policy to increase exports and imports, which leads GDP growth and welfare of the country respectively.

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© Integrated Publications.
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