Current Account in India

India Current Account | Economic News & Forecasts

India - Current Account

Annual GDP growth likely slowed in Q3 (FY Q2 2021) due to the fading base effect, but activity should have remained robust. The composite goods PMI averaged significantly higher in Q3, supported by healthier manufacturing and services activity, pointing to stronger production on a sequential basis. Turning to Q4 (FY Q3 2021), growth is likely easing further on a less supportive base effect, but conditions should be improving relative to the previous quarter. In October, the composite goods PMI reached the highest level since January 2012, while the PHDCCI economy GPS index—a leading indicator of GDP—also surged in the same month, hitting a series-record high, due to strong progress on the vaccination front, a busy festive season and upbeat business and consumer sentiment relative to September. Moreover, export growth picked up pace in October, boding well for the external sector.

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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