India's current account deficit widened sharply to USD 19.1 billion, or 2.9 percent of GDP, in July-September 2018-19 from USD 6.9 billion, or 1.1 percent of GDP, in the same period of the previous fiscal year. The goods deficit increased to USD 50.0 billion from USD 32.5 billion a year earlier and the primary income gap edged up to USD 8.7 billion from USD 8.6 billion. On the other hand, the services surplus rose to USD 20.2 billion from USD 18.4 billion a year ago and the secondary income surplus advanced to USD 19.4 billion from USD 15.7 billion. Current Account in India averaged -2054.58 USD Million from 1949 until 2018, reaching an all time high of 7360 USD Million in the first quarter of 2004 and a record low of -31857.18 USD Million in the fourth quarter of 2012.
Current Account in India is expected to be -18000.00 USD Million by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Current Account in India to stand at -12000.00 in 12 months time. In the long-term, the India Current Account is projected to trend around -14600.00 USD Million in 2020, according to our econometric models.