Current Account in India
India - Current AccountEconomic growth slowed in the third quarter of fiscal year 2018, which ran from October to December, on a weaker expansion in private consumption owing to tighter financial conditions. Nevertheless, fixed investment increased at a faster rate in Q3, while export growth accelerated and import growth decelerated. The differing export and import dynamics can partly be attributed to the large currency depreciation, followed by the announcement of new import restrictions on some goods, in the immediate run-up to the quarter. Turning to the January–March period, the economy will likely grow at a steady pace, with survey data for the private-sector economy pointing to robust growth in both the manufacturing and tertiary sectors through February. Meanwhile, India’s electoral commission announced the upcoming general election will run from 11 April till 19 May, with the final vote count due on 23 May.
India - Current Account Data
|Current Account (% of GDP)||-1.8||-1.4||-1.1||-0.7||-1.9|
5 years of economic forecasts for more than 30 economic indicators.
India Current Account Chart
Source: Ministry of Finance and FocusEconomics calculations.
|Bond Yield||7.52||-0.04 %||Mar 20|
|Exchange Rate||68.79||-0.09 %||Mar 20|
|Stock Market||38,387||-0.08 %||Mar 20|
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March 15, 2019
Merchandise export growth in annual terms decelerated to 2.4% in February from 3.7% in January.
March 14, 2019
In February, consumer prices rose 0.22% compared to the previous month, which contrasts the revised 0.36% decrease in January (previously reported: -0.29% month-on-month).
March 12, 2019
Annual industrial production growth decelerated to 1.7% in January from a revised 2.4% in December (previously reported: +1.7% year-on-year).
March 5, 2019
The composite Purchasing Managers’ Index (PMI) produced by Nikkei and IHS Market improved to 53.8 in February from 53.6 in January, rising further above the 50-point threshold that separates expansion from contraction in the private sector. The services PMI increased to 52.5 in February from 52.2 in January on the back of a faster increase in new business orders.
February 28, 2019
In the third quarter of fiscal year 2018—which ran from October to December—GDP grew 6.6% compared to the same quarter a year earlier.