26-Dec-2011

$121 Billion Went Out In The Last Decade Via Trade Mispricing

I'm sure the politicians forced them to misprice because, as we all know, only the politicians are corrupt.

 if an exporter understates the value of goods actually exported in relation to the imports recorded in the importing partner country and keeps the balance of funds abroad, that too is an illicit outflow. International trade data reveals such mispricing by comparing data from partner trading countries.It is this type of jugglery that accounts for the bulk of illicit flows in India - worth over $121.65 billion (Rs 5.8 lakh crore) or almost 95% of the total.

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