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Explanation:

Trade Deficit will exist if Imports exceed Exports for a certain year. Hence, find the value of Imports − Exports for each year. 

2012: (40% of 500) − (20% of 275) = 200 − 55 = 145 

2013: (45% of 475) − (25% of 350) = 213.75 − 87.5 = 126.25

2014: (40% of 450) − (20% of 325) = 180 − 65 = 115

2015: (30% of 375) − (10% of 275) = 112.5 − 27.5 = 85

2016: (25% of 350) − (10% of 250) = 87.5 − 25 = 62.5 

Thus, the second lowest trade deficit is in 2015. 

Hence, option (a).

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