India posts current account deficit of 0.1% of GDP in April-June
[MUMBAI] India posted a current account deficit of US$300 million, or 0.1 per cent of gross domestic product, in the April-June quarter, contrasting with expectations for a surplus of nearly US$4 billion.
The deficit was much narrower than a deficit of US$6.1 billion, or 1.2 per cent of GDP, in the same quarter a year ago, according to the data released by the Reserve Bank of India on Wednesday.
Meanwhile, the balance of payments posted a surplus of US$7.0 billion for the April-June quarter, down from an US$11.4 billion surplus a year ago, the RBI data showed.
It was India's third consecutive balance of payment surplus.
REUTERS
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
International
German forecast to offer signs if ailing economy on the mend
PBOC steps up rhetoric against long-end government bond rally
Trade, TikTok, Taiwan: Blinken faces tough talks in China
Australian inflation boosts case for higher-for-longer rates
The American small-business tyrant has a favourite political party
China’s prices are just too low for buyers to sweat about tariffs