Mumbai: India’s current account balance recorded a surplus of USD 13.5 billion (1.3 per cent of GDP) in January-March quarter of 2024-25 as compared with USD 4.6 billion (0.5 per cent of GDP) in the year-ago period, RBI said Friday.
The current account was in deficit of USD 11.3 billion (1.1 per cent of GDP) in December quarter of 2024-25.
On annual basis, India had a current account deficit at USD 23.3 billion (0.6 per cent of GDP) during 2024-25, lower than USD 26 billion (0.7 per cent of GDP) during 2023-24, primarily due to higher net invisibles receipts.
Merchandise trade deficit at USD 59.5 billion in Q4:2024-25 was higher than USD 52 billion in Q4:2023-24, according to Reserve Bank’s ‘Developments in India’s Balance of Payments during the Fourth Quarter (January-March) of 2024-25.
However, it moderated from USD 79.3 billion in Q3:2024-25.
Net services receipts increased to USD 53.3 billion in Q4:2024-25 from USD 42.7 billion a year ago.
Services exports have risen on a year-over-year basis in major categories such as business services and computer services.
PTI
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