India recorded a current account surplus of $5.7 billion in the quarter ending in March of 2024, swinging from the $1.3 billion deficit in the previous three-month period, to mark the first surplus since the quarter ending in June 2021. The swing was largely due to a sharp increase in the services account surplus ($42.7 billion vs $39.1 billion in FY2024Q4), driven by a 4.1% annual jump in services exports. In the meantime, private transfer receipts rose by 11.9% annually to $32 billion in the period, mainly through remittances by Indian workers abroad. Also supporting the swing to the current account surplus, the merchandise trade deficit narrowed to $50.9 billion from $52.6 billion. On the other hand, the primary account deficit widened to $14.8 billion from $12.6 billion. source: Reserve Bank of India

India recorded a Current Account surplus of 5700 USD Million in the first quarter of 2024. Current Account in India averaged -2410.52 USD Million from 1949 until 2024, reaching an all time high of 19083.03 USD Million in the second quarter of 2020 and a record low of -31857.18 USD Million in the fourth quarter of 2012. This page provides - India Current Account - actual values, historical data, forecast, chart, statistics, economic calendar and news. India Current Account - data, historical chart, forecasts and calendar of releases - was last updated on July of 2024.

India recorded a Current Account surplus of 5700 USD Million in the first quarter of 2024. Current Account in India is expected to be -4500.00 USD Million by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the India Current Account is projected to trend around -2600.00 USD Million in 2025 and -1600.00 USD Million in 2026, according to our econometric models.



Calendar GMT Reference Actual Previous Consensus TEForecast
2024-03-26 01:00 PM
Current Account
Q4 $-10.5B $-11.4B $-12.1B $-10.8B
2024-06-24 11:30 AM
Current Account
Q1 $5.7B $-8.7B $ -6.8B
2024-09-30 12:00 PM
Current Account
Q2 $5.7B $ -4.5B


Related Last Unit Reference
Balance of Trade -23.80 USD Billion May 2024
Capital Flows -88.70 USD Million Dec 2023
Current Account 5700.00 USD Million Mar 2024
Current Account to GDP -1.20 percent of GDP Dec 2023
Exports 38.13 USD Billion May 2024
Foreign Direct Investment 5957.00 USD Million Mar 2024
Imports 61.91 USD Billion May 2024
Remittances 19634.59 USD Million Dec 2023
Terms of Trade 147.00 points Dec 2023

India Current Account
Current Account is the sum of the balance of trade (exports minus imports of goods and services), net factor income (such as interest and dividends) and net transfer payments (such as foreign aid).
Actual Previous Highest Lowest Dates Unit Frequency
5700.00 -8700.00 19083.03 -31857.18 1949 - 2024 USD Million Quarterly
Current Prices, NSA


News Stream
India Posts 1st Current Account Surplus in Nearly 3 Years
India recorded a current account surplus of $5.7 billion in the quarter ending in March of 2024, swinging from the $1.3 billion deficit in the previous three-month period, to mark the first surplus since the quarter ending in June 2021. The swing was largely due to a sharp increase in the services account surplus ($42.7 billion vs $39.1 billion in FY2024Q4), driven by a 4.1% annual jump in services exports. In the meantime, private transfer receipts rose by 11.9% annually to $32 billion in the period, mainly through remittances by Indian workers abroad. Also supporting the swing to the current account surplus, the merchandise trade deficit narrowed to $50.9 billion from $52.6 billion. On the other hand, the primary account deficit widened to $14.8 billion from $12.6 billion.
2024-06-24
India Current Account Deficit Narrows in Oct-Dec
India's current account deficit narrowed to USD 10.5 billion or the equivalent of 1.2% of GDP in the October-December 2023 quarter, compared with USD 16.8 billion or 2.0% of GDP in the same quarter of the previous year. The services surplus widened sharply to USD 45.0 billion from USD 38.7 billion a year ago, on the back of rising exports of software, business and travel services, and the secondary income surplus increased slightly to USD 29.3 billion from USD 28.5 billion. Meanwhile, the goods deficit remained relatively unchanged at USD 71.6 billion compared to USD 71.3 billion a year earlier, while the primary income gap rose to USD 13.2 billion from USD 12.7 billion. During the first three quarters of the 2023-24 fiscal year, the current account deficit narrowed to USD 31.0 billion, or 1.2% of GDP, from USD 65.6 billion, or 2.6% of GDP, in the corresponding period a year ago, driven by a decrease in the goods trade deficit.
2024-03-26
India Current Account Gap Narrows in July-September
India's current account deficit narrowed to USD 8.3 billion in the July-September 2023 quarter, or 1% of GDP, compared with USD 30.9 billion, or 3.8% of GDP, in the same quarter of the preceding year. The goods gap decreased to USD 61.0 billion from USD 78.3 billion the previous year, while the services surplus rose to USD 40.0 billion from USD 34.4 billion. However, the primary income deficit widened to USD 12.2 billion from USD 11.8 billion, and the secondary income gap slightly increased to USD 25.0 billion from USD 24.8 billion. For the April-September period of the 2023-24 fiscal year, the current account deficit shrank to USD 17.5 billion from USD 48.8 billion in the corresponding period of the previous year.
2023-12-26