FY21 Balance Of Payments Surplus Seen At 0.9% Of GDP: Nirmal Bang
Employees work on an assembly line in the mobile phone plant of Rising Stars Mobile India Pvt., a unit of Foxconn Technology Co., in Sriperumbudur. (Photographer: Karen Dias/Bloomberg)

FY21 Balance Of Payments Surplus Seen At 0.9% Of GDP: Nirmal Bang

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Nirmal Bang Report

The current account surplus for Q2 FY21 stood at $15.5 billion (2.4% of gross domestic product), down from a surplus of $19.2 billion (3.8% of GDP) in the previous quarter.

However, it was above our expectation as we had expected the current account surplus to narrow to 1.8% of GDP in Q2 FY21.

The trade deficit widened to $14.8 billion from $10.8 billion in Q1 FY21 on higher oil and non-oil non-gold imports.

Services exports and remittances were only marginally better than Q1 FY21 despite improvement in growth.

Click on the attachment to read the full report:

Nirmal Bang Q2FY21 Balance of Payments - Economy Update - 31 December 2020.pdf

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