BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.
Motilal Oswal Report
India’s current account balance saw a nine-quarter high deficit of $9.6 billion (or 1.3% of gross domestic product) in Q2 FY22, lower than the consensus of $10.6 billion and following a surplus of $6.6 billion (0.9% of GDP) in Q1 FY22.
It means that there was a small current account deficit of $3 billion (or 0.2% of GDP) in H1 FY22 as compared to a surplus of 3% of GDP in H1 FY21 and a deficit of 1.6% of GDP in H1 FY20.
The wider current account deficit in Q2 FY22 was mainly on account of a larger merchandise trade deficit. A spurt in imports (up 70% YoY in Q2) vis-a-vis exports (up 39% YoY) led to wider merchandise trade deficit.
Excluding gold, current account surplus narrowed to a six-quarter low of $6.4 billion (or 0.9% of GDP).
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