Current Account Deficit Widens To 2.4% of GDP

India’s current account deficit (CAD) widened to a four-quarter-high at 2.4% of gross domestic product (GDP) in April-June period on the back of rising crude oil prices, from 1.9% of GDP in the January-March quarter of 2017-18, according to data released by the Reserve Bank of India (RBI). 
Merchandise trade deficit expanded to $45.7 billion in the June quarter against $41.6 billion in the March quarter as crude oil prices zoomed past $75 per barrel. Net services exports, at $18.7 billion, were lower than in the preceding quarter ($20.2 billion) due to lower realization from IT services. 
Source- The Livemint


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