India Current Account Deficit
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India’s current account deficit (CAD) for Q2 2009 was $12.6 billion, as compared to $12.57 billion in the same quarter in 2008, on lower net invisible surplus. However, the deficit was twice as high as the $5.99 billion reported for April-June 2009, according to the Reserve Bank of India data on balance of payments (BoP).
While the trade deficit declined from $39.2 billion in July-September 2008 to $32.2 billion in July-September 2009, the net invisibles surplus, reflecting activity in services and transfers, declined from $26.54 billion in the second quarter of last year to $19.57 billion in July-September 2009. During April 2009-September 2009, the deficit was higher at $18.61 billion, as compared to $15.84 billion in the same period last year.
