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India Oct-Dec. Current Account Deficit Widens

3/30/2012 9:30 AM ET

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 RTT Staff Writer

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