HomeEconomicsCurrent account deficit shrinks to 1% of GDP

Current account deficit shrinks to 1% of GDP

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Opinion | Caging the current account deficit | Mint
  1. September quarter Current Account Deficit (CAD) shrunk to $8.3 billion, around 1% of GDP.
  2. Marked improvement from $30.8 billion a year ago and $9.2 billion in Q1 FY24.
  3. Goods trade deficit notably reduced from -$78.3 billion in FY23 to -$61 billion in FY24.
  4. Services sector displayed robust growth with a net positive balance of $40 billion in Q2 FY24.
  5. Analysts suggest CAD figures are lower than anticipated, impacting exchange rates positively.
SourceTOI

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