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INDIA POSTS STRONG JAN-MARCH CURRENT ACCOUNT SURPLUS; FY25 DEFICIT NARROWS SHARPLY

Updated: June 27, 2025 18:00

Image Source: The Indian Express
India’s external sector showed marked improvement in the January-March 2025 quarter, with the Reserve Bank of India (RBI) reporting a robust current account surplus and a sharply reduced full-year deficit, surpassing market expectations.
 
Key Highlights:
 
For the full fiscal year April 2024–March 2025, India’s current account balance stood at a deficit of -0.6% of GDP, reflecting a significant improvement from previous years and indicating stronger external stability.
 
In the January-March 2025 quarter, the current account balance surged to a surplus of $13.5 billion, or 1.3% of GDP, far exceeding the Reuters poll estimate of $8.5 billion and 0.9% of GDP.
 
The overall balance of payments (BoP) for the January-March quarter recorded a surplus of $8.8 billion, more than double the Reuters poll forecast of $4.1 billion, highlighting robust capital inflows and improved trade dynamics.
 
Merchandise trade remained a key challenge, with the January-March 2025 trade deficit at $59.5 billion, reflecting continued high import demand, especially for oil and gold, despite steady export performance.
 
The strong current account surplus was driven by resilient services exports, higher remittances, and a narrowing of the merchandise trade deficit compared to earlier quarters.
 
Analysts note this is the first time in several quarters that India’s current account has swung into surplus, underscoring the resilience of the economy amid global uncertainties.
 
The RBI’s data signals a positive outlook for India’s external sector, supported by stable capital flows, robust services trade, and prudent policy management.
 
Source: Reserve Bank of India, Reuters, PIB, Deccan Herald

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