Hindi English Translation || Editorial || Trade puzzle: On exports and global trade

Trade puzzle: On exports and global trade

The uptick in goods exports is heartening (प्रशंसा करना), but difficult to sustain (बनाए रखना)

Towards the end of a tumultuous (stormy, turbulent, volatile; roller-coaster, out of control, confused, unrestrained) trading year, India’s goods exports jumped (increase, upturn, upsurge, rise) 11.9% in February, marking (निशान, इंगित करना) the healthiest uptick in 20 months. The $41.4 billion tally is the highest in 11 months, and only the third occasion (अवसर) in two years that the $40 billion mark has been breached (break (through)). It is remarkable that this spurt (उछलना), significantly higher than the average export tally (total, count) of $35.4 billion in the first ten months of this year, comes amid (के बीच, मध्य में) persistent (continuous, constant, unending, unrelenting, unceasing) concerns about disruptions (disturbance, disarray, turmoil, obstruction, stoppage) in the Red Sea and the drought-hit (affected badly by a dry spell) Panama Canal that have throttled (stop, suppress, control, restrict, inhibit, suffocate, stifle) vital trading routes and spiked (increase sharply) the time and cost of moving consignments (shipment, goods, cargo, load). While the last two months’ trade numbers suggest (indicate, denote, point to, signify) that India is yet to feel the full impact of the logistics (the process of coordinating and moving/transporting resources (people, materials, goods, inventory and equipment) from the point of origin to the point of destination) challenges for servicing key markets (point, level, stage) in Europe and the Americas, it may be too simplistic (oversimple, oversimplified, superficial, uncomplicated, facile) a conclusion. It is plausible (प्रशंसनीय) that some of February’s numbers may reflect (प्रतिबिंबित होना) shipments that were probably (सम्भवतः, शायद) despatched (send, transmit, ship, freight) earlier and reached their destinations only last month using longer routes. Economists believe a combination of backlogged (accumulated, logjammed, piled-up, excess (pending things)) orders attaining (achieve, reach, accomplish, obtain, get) fruition (realization, achievement, accomplishment, completion) and demand improvements may be at work (in the process; having a particular effect). However, with interest rates still high, global demand conditions are yet to demonstrate the rebound (rally, upturn, recovery, improvement, resurgence (after decline)) the World Trade Organization (WTO) (विश्व व्यापार संगठन) had hoped for in 2024.

The WTO expects global trade to rise 3.3% this year after a 0.8% crawl (move, proceed, progress (very slowly)) in 2023. But by its own reckoning (calculation, estimation, opinion, judgement, evaluation), using a gauge (measure, indicator, index, barometer) called the Goods Trade Barometer (The Goods Trade Barometer (developed by the WTO) is a composite indicator for world trade, providing real-time information on the trajectory of merchandise trade relative to recent trends. Barometer values greater than 100 are associated with above-trend trade volumes while barometer values less than 100 suggest that goods trade has either fallen below trend or will do so in the near future), things are yet to perk up. As of March 8, the barometer (indicator, measure, gauge, index), where a reading (analysis, account, explanation; indication, measurement) of over 100 reflects above-trend exim volumes, had a reading of just 100.6. The export orders parameter (मापदण्ड) was marginally (सीमांत रूप से) higher at 101.7 but container shipping slipped to 98.6. Some modest gains in the first quarter (तिमाही) of 2024 may be seen owing to (because of something; in view of, due to, as a result of, by/in virtue of) the base effects (it relates to inflation in the corresponding period of the previous year, if the inflation rate was too low in the corresponding period of the previous year, even a smaller rise in the Price Index will arithmetically give a high rate of inflation now) of a weak 2023, but any such gains could be easily derailed (obstruct, impede, hinder, hamper, block, interrupt, thwart, stop, restrict) by regional conflicts (war, warfare, armed conflict, military action, armed clash) and geopolitical (relating to (the study of) the geographical factors (a country’s position on the earth, size, climate, and natural resources &, etc.) in world politics and inter-state relations) tensions (strained relations, strain, unease), the WTO has warned. Policymakers may have turned upbeat (optimistic, positive, hopeful) about surpassing (exceed, be more than, be greater than, be better than, improve on) last year’s record overall exports (merchandise (goods, commodities, produce, product) and services combined), but must not lose sight of (forget, neglect, ignore, disregard, overlook, pay no attention to, fail to consider, be lax about) the lingering (lengthy, extended, continuing, unending, unrelenting, long-drawn-out, prolonged, persisting, protracted) risks and challenges, including the impact of freight (goods or cargo (carried by ship, aircraft, train or truck)) hikes on margins. While electronics goods exports have been an outlier (a person/thing detached from the main group) in 2023-24’s weak exports narrative (a representation of a particular situation; portrayal, account, description, statement) (-3.5% so far), the WTO’s latest barometer reading for electronic components trade has plummeted (decrease, decline rapidly, fall sharply, plunge, slump) to 95.6. This is visible in February’s numbers as both electronics imports and exports grew just fractionally (to a very small level/degree; slightly) over 1%. For now, the trade deficit (a trade deficit (a deficit in the balance of trade) occurs when the value of a country’s imports exceeds that of its exports. It is also called a trade gap) should not be a concern, despite imports jumping at a 17-month high pace last month, led by a spike in inflows of increasingly (more and more, steadily more, continuously more, gradually more) pricey (expensive, costly, exorbitant) gold. Finding better ways to support exporters, especially in adversely (unfavourably, disadvantageously, badly) hit employment-intensive sectors such as textiles, and gems and jewellery, remains critical.

Courtesy: The Hindu

Important Word List With Meaning

1.puzzle (noun)

Hindi Meaning - पहेली
English Meaning - mystery, paradox, enigma, conundrum, problem, riddle, question (mark).

2.heartening (adjective)

Hindi Meaning - प्रशंसा करना
English Meaning - encouraging, promising, hopeful, reassuring, comforting.

3.sustain (verb)

Hindi Meaning - बनाए रखना
English Meaning - continue, carry on, keep up, keep going, maintain, prolong.

4.mark (verb)

Hindi Meaning - निशान, इंगित करना
English Meaning - indicate, signify, represent.

5.occasion (noun)

Hindi Meaning - अवसर
English Meaning - time.

6.spurt (noun)

Hindi Meaning - उछलना
English Meaning - sudden increase, rise, surge.

7.amid (preposition)

Hindi Meaning - के बीच, मध्य में
English Meaning - in the middle of, surrounded by; during.

8.drought (noun)

Hindi Meaning - सुखा
English Meaning - dry spell/period, lack of rain, shortage of water.

9.plausible (adjective)

Hindi Meaning - प्रशंसनीय
English Meaning - likely, possible, probable, imaginable, thinkable.

10.reflect (verb)

Hindi Meaning - प्रतिबिंबित होना
English Meaning - indicate, show, display, express, reveal.

11.probably (adverb)

Hindi Meaning - सम्भवतः, शायद
English Meaning - likely, perhaps, maybe.

12.World Trade Organization (WTO) (noun)

Hindi Meaning - विश्व व्यापार संगठन
English Meaning - an intergovernmental organization that is concerned with the regulation of international trade between nations.

13.parameter (noun)

Hindi Meaning - मापदण्ड
English Meaning - criterion, limit, variable.

14.marginally (adverb)

Hindi Meaning - सीमांत रूप से
English Meaning - slightly, somewhat, to some degree.

15.quarter (noun)

Hindi Meaning - तिमाही
English Meaning - a period of three months (considered as one-fourth of a year).

16.uptick (noun)

English Meaning - a small increase or upward trend.

17.tumultuous (adjective)

English Meaning - stormy, turbulent, volatile; roller-coaster, out of control, confused, unrestrained.

18.jump (verb)

English Meaning - increase, upturn, upsurge, rise.

19.healthiest superlative adjective of healthy (adjective)

English Meaning - strong, robust, vigorous.

20.tally (noun)

English Meaning - total, count.

21.mark (noun)

English Meaning - point, level, stage.

22.breach (verb)

English Meaning - break (through).

23.persistent (adjective)

English Meaning - continuous, constant, unending, unrelenting, unceasing.

24.disruption (noun)

English Meaning - disturbance, disarray, turmoil, obstruction, stoppage.

25.drought-hit (adjective)

English Meaning - affected badly by a dry spell.

26.hit (verb)

English Meaning - affect badly, damage, harm, ruin.

27.throttle (verb)

English Meaning - stop, suppress, control, restrict, inhibit, suffocate, stifle.

28.spike (verb)

English Meaning - increase sharply.

29.consignment (noun)

English Meaning - shipment, goods, cargo, load.

30.suggest (verb)

English Meaning - indicate, denote, point to, signify.

31.logistics (noun)

English Meaning - the process of coordinating and moving/transporting resources (people, materials, goods, inventory and equipment) from the point of origin to the point of destination.

32.key (adjective)

English Meaning - vital, important, essential, crucial.

33.simplistic (adjective)

English Meaning - oversimple, oversimplified, superficial, uncomplicated, facile.

34.despatch (verb)

English Meaning - send, transmit, ship, freight.

35.backlogged (adjective)

English Meaning - accumulated, logjammed, piled-up, excess (pending things).

36.attain (verb)

English Meaning - achieve, reach, accomplish, obtain, get.

37.fruition (noun)

English Meaning - realization, achievement, accomplishment, completion.

38.at work (verb)

English Meaning - in the process; having a particular effect.

39.rebound (noun)

English Meaning - rally, upturn, recovery, improvement, resurgence (after decline).

40.crawl (verb)

English Meaning - move, proceed, progress (very slowly).

41.reckoning (noun)

English Meaning - calculation, estimation, opinion, judgement, evaluation.

42.by someone’s reckoning (phrase)

English Meaning - according to someone’s calculations.

43.gauge (noun)

English Meaning - measure, indicator, index, barometer.

44.Goods Trade Barometer (noun)

English Meaning - The Goods Trade Barometer (developed by the WTO) is a composite indicator for world trade, providing real-time information on the trajectory of merchandise trade relative to recent trends. Barometer values greater than 100 are associated with above-trend trade volumes while barometer values less than 100 suggest that goods trade has either fallen below trend or will do so in the near future.

45.perk up (phrasal verb)

English Meaning - gain energy; cheer up, recover, rally, revive, encourage .

46.barometer (noun)

English Meaning - indicator, measure, gauge, index.

47.reading (noun)

English Meaning - analysis, account, explanation; indication, measurement.

48.exim (adjective)

English Meaning - export & import.

49.slip (verb)

English Meaning - fall, sink, go down, decrease.

50.owing to (phrase)

English Meaning - because of something; in view of, due to, as a result of, by/in virtue of.

51.base effect (noun)

English Meaning - it relates to inflation in the corresponding period of the previous year, if the inflation rate was too low in the corresponding period of the previous year, even a smaller rise in the Price Index will arithmetically give a high rate of inflation now.

52.derail (verb)

English Meaning - obstruct, impede, hinder, hamper, block, interrupt, thwart, stop, restrict.

53.conflict (noun)

English Meaning - war, warfare, armed conflict, military action, armed clash.

54.geopolitical (adjective)

English Meaning - relating to (the study of) the geographical factors (a country’s position on the earth, size, climate, and natural resources &, etc.) in world politics and inter-state relations.

55.tensions (noun)

English Meaning - strained relations, strain, unease.

56.upbeat (adjective)

English Meaning - optimistic, positive, hopeful.

57.surpass (verb)

English Meaning - exceed, be more than, be greater than, be better than, improve on.

58.merchandise (noun)

English Meaning - goods, commodities, produce, product.

59.lose sight of (phrase)

English Meaning - forget, neglect, ignore, disregard, overlook, pay no attention to, fail to consider, be lax about.

60.lingering (adjective)

English Meaning - lengthy, extended, continuing, unending, unrelenting, long-drawn-out, prolonged, persisting, protracted.

61.freight (noun)

English Meaning - goods or cargo (carried by ship, aircraft, train or truck).

62.outlier (noun)

English Meaning - a person/thing detached from the main group.

63.narrative (noun)

English Meaning - a representation of a particular situation; portrayal, account, description, statement.

64.so far (phrase)

English Meaning - until now, up to the present, up to this point.

65.plummet (verb)

English Meaning - decrease, decline rapidly, fall sharply, plunge, slump.

66.fractionally (adverb)

English Meaning - to a very small level/degree; slightly.

67.trade deficit (noun)

English Meaning - a trade deficit (a deficit in the balance of trade) occurs when the value of a country’s imports exceeds that of its exports. It is also called a trade gap.

68.inflow (noun)

English Meaning - a flow of a large amount of something to a particular place.

69.increasingly (adverb)

English Meaning - more and more, steadily more, continuously more, gradually more.

70.pricey adjective)

English Meaning - expensive, costly, exorbitant.

71.adversely (adverb)

English Meaning - unfavourably, disadvantageously, badly.

72.labour-intensive (adjective)

English Meaning - relating to the process where a larger portion of total costs is due to labour as compared with the portion for costs incurred in purchase, maintenance, and depreciation of capital equipment.