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Merchandise imports push India's Q1 CAD higher

IANS  |  New Delhi 

An exponential increase in merchandise during the first quarter (April-June) of 2017-18 pushed India's current account deficit (CAD) higher to $14.3 billion from $0.4 billion reported for the like period of 2016-17.

According to data released by Reserve (RBI) on Friday, Q1 CAD was even higher than the fourth quarter 2016-17 deficit of $3.4 billion.

"India's CAD at $14.3 billion (2.4 per cent of GDP) in Q1 of 2017-18 increased sharply from $0.4 billion (0.1 per cent of GDP) in Q1 of 2016-17 and $3.4 billion (0.6 per cent of GDP) in Q4 of 2016-17," the RBI said.

"The widening of the CAD on a year-on-year (y-o-y) basis was primarily on account of a higher trade deficit ($41.2 billion) brought about by a larger increase in merchandise relative to exports."

--IANS

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Fri, September 15 2017. 18:06 IST
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