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 reported a surplus of 6.5 billion (0.9% of gross domestic product) in Q1 FY22 from a deficit of $8.1 billion (or 1% of GDP) in Q4 FY21.
This was higher than our expectation of $1 billion and Bloomberg consensus of $2 billion, due to a higher surplus in the invisibles account (at $37.2 billion in Q1 FY22 versus $33.6 billion in Q4 FY21 and our forecast of $ 31.9 billion in Q1 FY22).
Lower merchandise trade deficit drove higher current account surplus.
It reduced to $30.7 billion in Q1 FY22 as against $ 41.7 billion in Q4 FY21.
Additionally, net receipts from services increased on the back of higher net exports of telecom, computer, and information services.
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