India's CAD stood at 1% of GDP in Q4FY21, full year in surplus at 0.9%

Experts say surge in gold imports contributed to widening of CAD in Q4FY21, in spite of spike in exports

Reflecting the rise in economic momentum, India's current account balance showed a deficit of one per cent of GDP ($8.1 billion) in the fourth quarter ended March 2021 (Q4FY21). The current account was in surplus at 0.1 per cent ($0.6 billion) in the fourth quarter of last year (Q4FY20).

The current account deficit (CAD) was 0.3 per cent of Gross Domestic Product ($2.2 billion) in the third quarter of FY21 (Q3FY21).

For the full year FY21, the balance recorded a surplus of 0.9 per cent of GDP as against a deficit of 0.9 per cent in FY20, according to Reserve