In 2013, India's trade deficit in goods was valued at $148 billion. By 2020, this deficit had narrowed significantly to $98 billion.
Explain three possible reasons why an economy's trade deficit in goods might narrow over time.
310 exam-style questions on AQA A Level Economics 2.6 The international economy (A-level only), covering 2.6.1 Globalisation, 2.6.2 Trade, 2.6.3 The balance of payments, 2.6.4 Exchange rate systems, and 2.6.5 Economic growth and development. Each one has a worked solution and a mark scheme showing where the marks go.