India’s trade and financial data for the October-December quarter show a mixed picture, according to the Reserve Bank of India (RBI).
The country’s merchandise trade deficit stood at $79.2 billion during this period. This means India imported goods worth much more than it exported, leading to a significant trade gap.
The current account deficit (CAD) for the quarter was recorded at $11.5 billion. This reflects the difference between India’s total foreign earnings and expenditures, including trade, services, and financial transfers.
In terms of GDP, the current account deficit was at 1.1%. This figure indicates how much India’s foreign earnings lagged behind its spending, compared to the overall size of the economy.
The balance of payments (BoP) showed a deficit of $37.7 billion. This includes all financial transactions with the rest of the world, covering trade, investments, and capital flows. A negative BoP means more money flowed out of the country than came in during the quarter.
India’s Trade and Financial Deficit Widen in October-December: RBI
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