December 5, 2012
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Trade deficit widening amid monthly export-import fluctuations, contributing to a larger current account gap relative to GDP.
Monthly merchandise trade data for 2012 show exports and imports fluctuating, with the trade deficit narrowing between February and April, rising in May, falling in June, and then increasing through October. The press release links these movements to the broader external position by reporting the 2011-12 current account deficit at US$ 78.2 billion (about 4.2% of GDP), up from US$ 45.9 billion (about 2.7% of GDP) in 2010-11, sourced to DGCI&S, Kolkata.