Current Account Deficit (CAD) for the month of Feb’21 was down by 75% YoY to USD 50mn or 0.2% of the GDP compared with deficit of USD 197mn during Feb’20.
On YoY basis, the primary reason behind the decline in deficit was 8% YoY (USD 186mn) and 24% YoY (USD 441mn) rise in total exports and remittances, respectively.
However, during the period under review, the trade deficit increased by 50% YoY to USD 2,349mn as against USD 1,568mn for the same period a year ago, with the jump largely being driven by higher imports (up 27% YoY).
On MoM basis, the Current Account Deficit (CAD) was down by 76%, mainly due to 45% decline in primary income deficit followed by a 3% increase in total exports to USD 2,649mn.
During 8MFY21, the country’s surplus has clocked in at USD 881mn compared with a deficit of USD 2,741mn during the same period last year.
Full report here: