Current account deficit narrows to $5.2 billion in August: RBI data
India's current account deficit narrowed to USD 5.2 billion in August from USD 6.1 billion a year ago, aided by a lower merchandise trade deficit and higher surpluses in services trade, according to preliminary data released by the RBI on Thursday.
The net deficit in the merchandise trade account declined to USD 26.6 billion in August from USD 27.6 billion in the same month last year.
Merchandise exports rose to USD 44.7 billion in August from USD 35.1 billion a year ago, while imports increased to USD 71.3 billion from USD 62.7 billion, the RBI data showed.
The surplus in services trade increased to USD 16.5 billion in August from USD 15.6 billion a year ago.
Services exports rose to USD 35.5 billion from USD 31.2 billion, while imports increased to USD 18.9 billion from USD 15.6 billion.
Net transfers, including remittances, increased to USD 12.8 billion in August from USD 12.2 billion a year ago, while the net deficit in the income account widened to USD 8 billion from USD 6.3 .
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