3. In which year contribution in GDP of Brazil and India was the same?
Answers
Answer:
Merchandise trade as a share of GDP was rather similar in the two economies in 1990 (12% and 13% in Brazil and India, respectively).
Explanation:
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Answer:
1990
Explanation:
As per the involvement with international trade, the two countries have also experienced different trajectories. Merchandise trade as a share of GDP was rather similar in the two economies in 1990 (12% and 13% in Brazil and India, respectively). In 2016 those shares had evolved to 18% in Brazil and no less than 28% in India.
The net balance in merchandise trade also differs in the two cases. Brazil systematically presents an overall trade surplus, whereas the merchandise balance is historically negative in India.
This leads to another peculiar feature that differentiates the two economies. In India the deficit in merchandise trade is systematically compensated by the export of services.
In the two countries, the service sector is predominant in the productive structure, accounting on average, in 2014-16, for 72% of GDP in Brazil and 53% of GDP in India. However, since at least the year 2000, the share of external trade (exports and imports) in services on GDP has been systematically 2 to 3 times higher in India in comparison to Brazil.
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