Mumbai: The country’s current account surplus decreased to $ 15.5 billion in the July-September quarter of the current financial year. It is 2.4 percent of gross domestic product (GDP). The Reserve Bank of India said on Wednesday that in the previous quarter April-June it was $ 19.2 billion, which was 3.8 percent of GDP. In the second quarter of the previous fiscal year 2019-20, the current account deficit was $ 7.6 billion. It was 1.1 percent of GDP.
According to RBI data, the current account surplus stood at 3.1 per cent of GDP in the first half of the current financial year, as against the current account deficit of 1.6 per cent in the first half of the previous financial year 2019-20. The decrease in the current account surplus in the second quarter of FY 2020-21 is due to an increase in the merchandise trade deficit which reached $ 14.8 billion. It was $ 10.8 billion in the previous quarter.