India’s Current Account Deficit Narrows

The current account deficit in India narrowed to USD 7.1 billion in the fourth quarter of 2015 from a USD 7.7 billion gap in a year earlier, mainly due to a lower trade deficit (USD 34 billion from USD 38.6 billion). The current account gap for the three months to December of 2015 corresponds to 1.3 percent of the country’s GDP. Considering April to December of the 2015/2016 fiscal year, the current account gap narrowed to 1.4 percent of GDP compared to 1.7 percent in the previous year. Read more