India’s current account deficit widened to USD 13.4 billion or 1.5% of the GDP in the first quarter of 2022, from USD 8.1 billion in the same period of the last year as the goods gap increased sharply to USD 54.5 billion from USD 41.7 billion a year earlier. Meanwhile, the services surplus widened to USD 28.3 billion from USD 23.5 billion, mainly due to exports of computer and business services. At the same time, the primary income gap edged down to USD 8.4 billion from USD 8.7 billion while the secondary income surplus expanded to USD 21.2 billion from USD 18.9 billion. Considering the full fiscal year of 2021-22 ending in March, the current account balance recorded a deficit of 1.2% of GDP compared to 0.9% surplus in 2020-21 as the trade deficit widened to USD 189.5 billion from USD 102.2 billion a year ago. source: Reserve Bank of India
Current Account in India averaged -2168.10 USD Million from 1949 until 2022, 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 August of 2022.
Current Account in India is expected to be -17500.00 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 1200.00 USD Million in 2023, according to our econometric models.