Citi pegs FY’15 trade shortfall at $142 bn
19/08/2014 16:55
US investment bank Citigroup has pegged India’s trade shortfall for the current fiscal year at around USD 142 billion, while it sees the country posting a current account deficit (CAD) of USD 39.3 billion in FY 2014-15, or 1.9 per cent of India’s GDP.
A rise in exports amid a recovery in the world economy and a dip in gold imports amid continues gold import curbs has helped to contain India’s trade deficit to an average USD 11.6 billion during the April-July 2014 period, the report said.
“With a cumulative trade deficit (April-July) at $45.3 billion, we maintain our view of a FY15 deficit at $142 billion. Consequently, we expect the FY15 current account deficit to be contained at $39.3 billion or 1.9 per cent of GDP," the Citigroup research report said.
India posted a trade shortfall of USD 45.3 billion in the first four months of the current fiscal year.
“Given recent monthly trends, we maintain our view of the FY15 trade deficit at $142 billion vs $138.7 billion in FY14," the report said.
India’s exports climbed for the fourth straight month in July 2014, up 7.33 per cent to USD 27.72 billion from the same month a year ago.
19/08/2014 16:55
US investment bank Citigroup has pegged India’s trade shortfall for the current fiscal year at around USD 142 billion, while it sees the country posting a current account deficit (CAD) of USD 39.3 billion in FY 2014-15, or 1.9 per cent of India’s GDP.
A rise in exports amid a recovery in the world economy and a dip in gold imports amid continues gold import curbs has helped to contain India’s trade deficit to an average USD 11.6 billion during the April-July 2014 period, the report said.
“With a cumulative trade deficit (April-July) at $45.3 billion, we maintain our view of a FY15 deficit at $142 billion. Consequently, we expect the FY15 current account deficit to be contained at $39.3 billion or 1.9 per cent of GDP," the Citigroup research report said.
India posted a trade shortfall of USD 45.3 billion in the first four months of the current fiscal year.
“Given recent monthly trends, we maintain our view of the FY15 trade deficit at $142 billion vs $138.7 billion in FY14," the report said.
India’s exports climbed for the fourth straight month in July 2014, up 7.33 per cent to USD 27.72 billion from the same month a year ago.
