India Posts Q1 Current A/C Surplus
India Posts Q1 Current A/C Surplus

India Posts Q1 Current A/C Surplus

India Posts Q1 Current A/C Surplus

India’s current account is likely to be in surplus in the first quarter of this financial year, says a Citigroup report, PTI reported. According to the global financial services major, trade deficit is stabilizing at lower levels, and incorporating August trade data, the trends are pointing to a “broadly balanced” current account scenario. “Following a moderate current account deficit of $0.4 billion or minus 0.1% of GDP in January-March quarter, we expect current account to come in at a surplus of $2 billion or 0.4% of GDP in April-June quarter,” Citigroup said in a research note. India’s trade deficit stood at $7.7 billion in August, almost unchanged in the last three months and significantly below the average monthly trade deficit of $9.9 billion last fiscal. Imports contracted by 14% year-on-year to $29.2 billion in August, while exports were down only 0.3% year-on-year to $21.5 billion. The report further noted that “incorporating August trade data, the trends are pointing to a broadly balanced current account in the second quarter of this fiscal year (July-September) as well”.


Short URL : https://goo.gl/pSRgm1
  1. https://goo.gl/z5yjdc
  • https://goo.gl/PnLBJ3
  • https://goo.gl/J25ThU
  • https://goo.gl/K4UdiV
  • https://goo.gl/0PXuHz

You can also read ...

Both, Russia and China, have intensified efforts in recent years to settle bilateral trade not in US dollars, but in rubles and yuan. Gold is considered important by both countries.
The issue of when a global reserve currency begins or ends is...
Norway’s Sovereign Wealth Fund  Hits $1 Trillion
The Norwegian sovereign wealth fund, the largest in the world...
The IMF could write off its debt and lighten Greece’s burden.
“Beware of Greeks bearing gifts,” wrote the ancient Roman poet...
Janet Yellen
As the Fed starts unwinding the stimulus it provided to snap...
Kazakh Economy Grows by 4.3%
The economic growth in Kazakhstan was at 4.3% since the...
Ukraine Raises $3b in First Bond issue
Ukraine has raised $3 billion in its first sovereign bond...
Multinational digital firms, mostly based in the US, have pushed for globally harmonized rules that would provide predictability and limit the space for national governments to intervene in digital flows.
The increasing digitization of the global economy is changing...
Hungary CB Rate on Hold
The Monetary Council of the National Bank of Hungary, or MNB,...