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India’s current account surplus rises to $19.8 bn in June quarter

Juliet Woodard by Juliet Woodard
September 30, 2020
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The country’s current account surplus rose to $19.8 billion or 3.9% of GDP in the June quarter as merchandise imports declined amid the COVID-19 pandemic, the Reserve Bank said on Wednesday. The current account surplus stood at $0.6 billion or 0.1% of GDP in the March quarter while there was a current account deficit of $15 billion or 2.1% of GDP in the year-ago period.“The surplus in the current account in Q1 of 2020-21 was on account of a sharp contraction in the trade deficit to USD 10.0 billion due to steeper decline in merchandise imports relative to exports on a year-on-year basis,” Reserve Bank of India said.

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Juliet Woodard

Juliet Woodard

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