Mumbai, Jun 27 (PTI) India’s current account balance recorded a surplus of USD 13.5 billion (1.3 per cent of GDP) in January-March quarter of 2024-25 as compared with USD 4.6 billion (0.5 per cent of GDP) in the year-ago period, RBI said on Friday.

The current account was in deficit of USD 11.3 billion (1.1 per cent of GDP) in December quarter of 2024-25.

On annual basis, India had a current account deficit at USD 23.3 billion (0.6 per cent of GDP) during 2024-25, lower than USD 26 billion (0.7 per cent of GDP) during 2023-24, primarily due to higher net invisibles receipts.

Merchandise trade deficit at USD 59.5 billion in Q4:2024-25 was higher than USD 52 billion in Q4:2023-24, according to Reserve Bank's 'Developments in India’s Balance of Payments during the Fourth Quarter (January-March) of 2024-25.

However, it moderated from USD 79.3 billion in Q3:2024-25.

Net services receipts increased to USD 53.3 billion in Q4:2024-25 from USD 42.7 billion a year ago.

Services exports have risen on a y-o-y basis in major categories such as business services and computer services. PTI NKD NKD ANU ANU

Current account surplus recorded, driven by higher net invisibles and stronger services receipts, moderating the merchandise trade deficit. A foreign exchange and external sector report records a current account surplus in Q4 of 2024-25 driven by higher net invisibles receipts and stronger services earnings, with services exports-particularly business and computer services-raising net services receipts, while the merchandise trade deficit remained but moderated from the previous quarter.