Q1FY23 CAD likely widened to 3.4% of GDP: Ind-Ra

India’s current account deficit (CAD) likely widened to a 36-quarter high of 3.4 per cent of GDP or USD 28.4 billion in the June 2022 quarter as compared to a surplus of USD 6.6 billion or 0.9 per cent of GDP a year ago, according to India Ratings and Research (Ind-Ra). The rating agency expects merchandise exports to slow down to USD 104.2 billion in the September 2022 quarter from USD 121.2 billion in the June 2022 quarter due to persistent global headwinds.

References
1. https://auto.economictimes.indiatimes.com/news/industry/cad-seen-hitting-a-36-quarter-high-at-3-4-in-apr-jun/94314015?utm_source=RSS&utm_medium=ETRSS
2. https://www.outlookindia.com/business/current-account-deficit-seen-hitting-a-36-quarter-high-at-3-4-in-q1-news-224407