India recorded a current account deficit of USD 1.7 billion in the last three months of 2020, equivalent to 0.2 percent of the GDP. It is the first gap after three consecutive quarter of surplus, mainly due to a wider merchandise goods gap (USD -34.5 billion from USD -14.8 billion in the preceding quarter), and an increase in net investment income payments. On the other hand, the services surplus increased to USD 23.6 billion amid higher export earnings from computer services. For the first nine months of the current financial year (April to December), the current account showed a surplus equivalent to 1.7 period of GDP versus a 1.2 percent deficit in same period last year source: Reserve Bank of India
Current Account in India averaged -2040.32 USD Million from 1949 until 2020, reaching an all time high of 19022.34 USD Million in the second quarter of 2020 and a record low of -31857.18 USD Million in the fourth quarter of 2012. This page provides - India Current Account - actual values, historical data, forecast, chart, statistics, economic calendar and news. India Current Account - data, historical chart, forecasts and calendar of releases - was last updated on April of 2021.
Current Account in India is expected to be -2000.00 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 -2600.00 in 12 months time. In the long-term, the India Current Account is projected to trend around -14400.00 USD Million in 2022 and -17700.00 USD Million in 2023, according to our econometric models.