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Finance Minister’s Statement On Current Account Deficit

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The Current Account Deficit, for the first half of the current year (2012-13) stood at US$ 38.7 billion or 4.6% of GDP. The main contributors to the CAD were

Exports recorded a sharp decline of 7.4%, while imports recorded a smaller decline of 4.3% leading to widening of the trade deficit. Of the imports, gold imports amounted to US$ 20.25 billion. This was partly made up by an increase in services exports of 4.2% and, consequently, surplus in services which amounted to US$ 29.6 billion and remittances of US$ 32.9 billion……Read More

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