India's current account deficit narrowed sharply to USD 6.3 billion in the July to September 2019 from USD 19.0 billion in the same period last year, as the goods gap fell to USD 38.1 billion from USD 50.0 billion and the secondary income surplus rose to USD 20.0 billion from USD 19.4 billion. Meanwhile, the primary income deficit and the services surplus were little-changed at USD 8.6 billion and USD 20.4 billion respectively. In April to September, the current account deficit stood at USD 20.4 billion, below USD 34.8 billion in the same period of the previous fiscal year. Current Account in India averaged -2176.88 USD Million from 1949 until 2019, reaching an all time high of 7360 USD Million in the first quarter of 2004 and a record low of -31857.18 USD Million in the fourth quarter of 2012. source: Reserve Bank of India
Current Account in India is expected to be -13500.00 USD Million by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Current Account in India to stand at -10000.00 in 12 months time. In the long-term, the India Current Account is projected to trend around -14600.00 USD Million in 2020, according to our econometric models.