India current account gap narrows to 1.2% of GDP in Q3 FY24 - cenbank

Reuters Images

The current account deficit stood at $10.5 billion, or 1.2% of GDP, in the third quarter of fiscal 2023/24 compared with $11.4 billion

Swati Bhat and Siddhi Nayak, Reuters News

March 26, 2024

PHOTO

India's current account deficit (CAD) narrowed in the October-December quarter largely due to higher service exports, the central bank said on Tuesday.

The current account deficit stood at $10.5 billion, or 1.2% of GDP, in the third quarter of fiscal 2023/24 compared with $11.4 billion or 1.3% of GDP in the preceding quarter.

The CAD stood at $16.8 billion or 2% in the same quarter a year ago.

(Reporting by Swati Bhat and Siddhi Nayak; Editing by Eileen Soreng

Disclaimer: The content of this article is syndicated or provided to this website from an external third party provider. We are not responsible for, and do not control, such external websites, entities, applications or media publishers. The body of the text is provided on an “as is” and “as available” basis and has not been edited in any way. Neither we nor our affiliates guarantee the accuracy of or endorse the views or opinions expressed in this article. Read our full disclaimer policy here.