India's current account deficit widens, but balance of payments in surplus
[MUMBAI] India's current account deficit widened to US$10.1 billion, or 2.1 per cent of gross domestic product, in the July-September quarter, higher than both the previous quarter and a year earlier, the Reserve Bank of India said on Monday.
India's current account deficit had reached US$5.2 billion, or 1.2 per cent of GDP a year earlier, the RBI said. In the previous quarter, the deficit had reached US$7.8 billion, or 1.7 per cent of GDP.
But the balance of payment stood at a surplus of US$6.9 billion during July-September, a fourth consecutive quarter of surplus, although that was narrower than the US$11.2 billion surplus in the previous quarter.
The trade deficit in the July-September period rose to US$38.6 billion from US$34.6 billion a quarter ago.
REUTERS
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
International
Philippines’ Recto sees rate-cut delay risk if peso sinks to 59
Ecuador president declares state of emergency over energy crisis
US Senate has agreement on Fisa reauthorisation, will vote on Friday night, Schumer says
US expects to finalise new Aukus trade exemptions in next 120 days
IMF concerned about debt, fiscal challenges facing low-income countries
Bank of Japan’s Ueda says ‘very likely’ to hike rates if inflation keeps rising