Direction: Answer the questions based on the following graph.
Which of the following statements can be inferred from the graph?
I. In all the years shown in the graph, the trade deficit is less than the export earning.
II. Export earnings increased in every year between 1989-90 and 1991-92.
III. In all the years shown in the graph, the earning by exports is less than the expenditure on imports in the preceding year.