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India Oct-Dec. Current Account Deficit Widens

India's current account deficit increased from last year in the three months ended December, data released by the Reserve Bank of India showed Friday.

The current account deficit increased to $19.6 billion or 4.3 percent of GDP during the three-month period from $10.1 billion or 2.3 of GDP in the same period last year.

The balance in the goods trade account was a deficit of $47.7 billion in the October-December period, which increased from last year's deficit of $31.4 billion as merchandise export growth eased sharply.

The services trade account showed a surplus of $15 billion during the period, up from the $12.5 billion surplus recorded a year earlier.

The deficit in the primary income account narrowed slightly to $4.5 billion from $4.6 billion in corresponding three-month period of 2010. Meanwhile, the secondary income account income showed a surplus of $17.5 billion, up from $13.4 billion recorded last year.

by RTTNews Staff Writer

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