Current Account in India

India Current Account | Economic News & Forecasts

India - Current Account

The economy recovered above its pre-pandemic level in FY 2021, which ended in March this year. Turning to the first quarter of FY 2022, GDP growth is likely to speed up considerably. Growth in the industrial sector accelerated in April, suggesting it weathered the disruption to power supply caused by record-breaking temperatures well. Moreover, looser Covid-19 restrictions are boosting domestic demand, helping to push the services PMI to an over 11-year high in May. Demand will also be supported by new measures to combat rising inflation, including cuts to fuel duty, a doubling of the fertilizer subsidy, an export ban on wheat and cuts to import tariffs for some raw materials. That said, inflation remained at a near-decade high in May, which together with higher interest rates will be capping momentum.

India - Current Account Data

2015   2016   2017   2018   2019  
Current Account (% of GDP)-1.1  -0.7  -1.8  -2.1  -     

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India Current Account Chart

India Current Account
Note: Current account balance in % of GDP.
Source: Ministry of Finance and FocusEconomics calculations.

India Facts

Value Change Date
Bond Yield6.50-0.04 %Jan 01
Exchange Rate71.23-0.09 %Jan 01

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