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India’s current account surplus had inched up to 1.3 percent of the GDP, compared with 1.1 percent deficit in the previous quarter
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India’s merchandise imports grew 6 percent in the third quarter to $186.7 billion, but a pick in demand helped exports rise to $109 billion and bring down goods trade deficit
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India expects its trade to rise further in the coming fiscal, as the country targets $1 trillion of exports
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Merchandise imports at $176 billion were higher than $111 billion in exports in the first quarter of the fiscal, as exports had contracted compared with the previous year
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India’s current account deficit reduced to 0.7 percent of the GDP in FY24, from 2 percent in the previous year, the Economic Survey said
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India's goods trade deficit widened to a seventh-month high of $23.78 billion in May. One of the leading causes for the higher gap was a significant jump in the oil import bill. And, one of the reasons for this jump is more expensive Russian oil purchases.
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The growth in the services surplus has ensured that the current account deficit remains low.
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For the first half of 2023-24, India's current account deficit more than halved to $17.5 bn from $48.8 bn in April-September 2022, Reserve Bank of India data showed.
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India's merchandise trade deficit hit an all-time high of $31.46 billion in October as gold imports nearly doubled from last year. But economists remain untroubled and are sticking to their full-year forecasts for the current account deficit
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Now CAD at 1.1 percent of GDP is not worrisome at all. But what is troubling is the reason why the deficit has gone up – a fall in services exports! This unexpected fall raises questions about the future growth of India’s services exports and the plentiful jobs this sector has been creating.
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According to data released on September 28 by the Reserve Bank of India, India's Current Account Deficit surged to $9.2 billion in the first quarter of 2023-24
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In the January-March quarter, India's current account deficit was $1.3 billion, the Reserve Bank of India said
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The latest survey of 22 economists showed the current account balance likely recorded a surplus of $3.3 billion, or 0.4% of gross domestic product (GDP), in the last quarter of the 2022/23 fiscal year.
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India's current account deficit narrowed more-than-expected to $18.2 billion in the last quarter of 2022
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As a percentage of GDP, October-December current account deficit is 2.2 percent compared to 3.7 percent in July-September and 2.7 percent in October-December 2021
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The median forecast of 22 economists polled March 16-23 showed a current account deficit of $23.0 billion in October-December 2022, or 2.7% of gross domestic product (GDP). Forecasts ranged from $15.0-$28.0 billion, or 2.0%-3.2% of GDP.
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“We are expecting modest recessions in Europe, US, but by the second half of the year, the worst of it will start to fade and we should be on a path of recovery when it comes to exports. But there will be a very gradual recovery in exports."
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In less than a month, the cash strapped nations currency has lost more than a quarter of its value against the U.S. dollar after the removal of artificial caps, and fuel prices have risen by more than a fifth as the government implemented fiscal measures required to unlocking funds from an International Monetary Fund (IMF) bailout.
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In January, India's merchandise trade deficit fell to a 12-month low of $17.8 billion, while the services trade surplus surged to an all-time high
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Trade deficit with China widened in 2022, with imports touching $118.5 billion and exports $17.48 billion. The share of India’s imports from China, however, has largely remained unchanged from pre-pandemic levels. This is now leading to calls for higher tariffs in the budget.
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India’s current account deficit widened to $36.4 billion or 4.4 of GDP in the third quarter of 2022, from $18.2 billion or 2.2 percent of GDP in the second quarter
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The current account gap should narrow to about 2 percent of GDP in 2023 from an estimated 3 percent in 2022
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The indexes extended gains for a seventh consecutive year in 2022, but also advanced the least since 2018.
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