As per the updates from UNCTAD, India's trade deficit as a percentage of global trade fell to 0.6% in 2022 from 0.7% in the pre-pandemic period. Global trade in goods and services touched a record high of $28.5 trillion in 2021, up almost 13% from the pre-pandemic levels. The positive trend for international trade in 2021 was largely the result of increases in commodity prices, subsiding pandemic restrictions and a strong recovery in demand due to economic stimulus packages.

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