Key Points
India's current account deficit narrowed in the quarter ended December2023 as services exports far outstripped the weakness in goods exports..
Current account deficit or CAD excess of imports of goods and services over exports narrowed both sequentially and compared to the same period a year ago..
It narrowed to $ 10.5 billion or1.2 percent of GDP) in the December 2023 quarter lower than $ 11.4 billion or 1.3 per cent of GDP in the September quarter and $ 16.8 billion or 2.0 per cent of GDP) in the quarter ending December 2022...
The current account deficit narrowed in Q4 despite a wider merchandise trade deficit, cushioned by a record high services trade surplus and secondary income Rahul Bajoria, MD & Head of EM Asia (ex-China) Economics, Barclays..
Net services receipts increased both sequentially and from a year ago that helped cushion the current account deficit..
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