India's current account deficit widens to 2.7% of GDP in Q3

The current account deficit was $9.9 bn in the second quarter ended Sep 2021 and $2.2 bn a year ago

India’s current account deficit (CAD) widened to $23 billion in the third quarter ended December 2021 (Q3FY22), forming 2.7 per cent of the country’s gross domestic product (GDP) and reflecting a rise in overseas trade.

The current account deficit was $9.9 billion (1.3 per cent of GDP) in the second quarter ended September 2021(Q2FY22) and $2.2 billion (0.3 per cent of GDP) a year ago (Q3FY21), said the Reserve Bank of India in a statement.

RBI said the widening of CAD in Q3 was mainly on account of higher trade deficit. The trade deficit rose to $60.4 billion in Q3FY22