India’s Current Account Deficit Widens on Higher Trade Gap
- CAD swings to deficit, at $9.7 billion for April-June period
- Services exports remain strong despite wider trade deficit
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India’s current account deficit widened marginally last quarter as the nation’s trade gap increased due to higher imports and weak exports.
The shortfall in the broadest measure of trade in goods and services was $9.7 billion, or 1.1% of gross domestic product in the quarter, the Reserve Bank of India said in a statement on Monday. This compares with a revised surplus reading of $4.6 billion seen in the January-March quarter.