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Annual Report


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Date : May 30, 2024
India’s Overall Balance of Payments
(US$ million)
  2019-20 2020-21 2021-22 2022-23 2023-24 (P)
1 2 3 4 5 6
A CURRENT ACCOUNT          
1 Exports, f.oI.b. 320,431 296,300 429,164 456,073 319,861
2 Imports, c.i.f. 477,937 398,452 618,623 721,364 512,693
3 Trade Balance -157,506 -102,152 -189,459 -265,291 -192,832
4 Invisibles, Net 132,850 126,065 150,694 198,236 161,773
a) ‘Non-factor’ Services of which : 84,922 88,565 107,516 143,283 120,082
Software Services 84,643 89,741 109,540 131,284 105,432
b) Income -27,281 -35,960 -37,269 -45,923 -35,376
c) Private Transfers 76,217 74,439 81,230 101,776 77,681
5 Current Account Balance -24,656 23,912 -38,766 -67,055 -31,059
B. CAPITAL ACCOUNT          
1 Foreign Investment, Net (a+b) 44,417 80,092 21,809 22,834 41,173
a) Direct Investment 43,013 43,955 38,587 27,986 8,483
b) Portfolio Investment 1403 36,137 -16,777 -5,152 32,690
2 External Assistance, Net 3,751 11,167 5,366 5,521 5,435
3 Commercial Borrowings, Net 22,960 -134 8135 -3,790 -1,560
4 Short Term Credit, Net -1,026 -4,130 20,105 6,539 -1,821
5 Banking Capital of which : -5,315 -21,067 6,669 20,980 33,631
NRI Deposits, Net 8,627 7,364 3,234 8,989 9,338
6 Rupee Debt Service -69 -64 -71 -68 -65
7 Other Capital, Net& 18,462 -2,143 23,794 6,928 -12,075
8 Total Capital Account 83,180 63,721 85,807 58,943 64,718
C. Errors & Omissions 974 -347 459 -1024 -711
D. Overall Balance [A(5)+B(8)+C] 59,498 87,286 47,501 -9,135 32,948
E. Monetary Movements (F+G) -59,498 -87,286 -47,501 9,135 -32,948
F. IMF, Net 0 0 0 0 0
G. Reserves and Monetary Gold (Increase -, Decrease +) -59,498 -87,286 -47,501 9,135 -32,948
of which : SDR Allocation 0 0 -17,862 0 0
Memo: As a ratio to GDP          
1 Trade Balance -5.6 -3.8 -6.0 -7.9 -7.4
2 Net Services 3.0 3.3 3.4 4.3 4.6
3 Net Income -1.0 -1.3 -1.2 -1.4 -1.3
4 Current Account Balance -0.9 0.9 -1.2 -2.0 -1.2
5 Capital Account, Net 2.9 2.4 2.7 1.8 2.5
6 Foreign Investment, Net 1.6 3.0 0.7 0.7 1.6
P : Data are provisional and pertain to April-December 2023.
& : Includes delayed export receipts, advance payments against imports, net funds held abroad, and advances received pending issue of shares under FDI.
Note: 1. Gold and silver brought by returning Indians have been included under imports, with a contra entry in private transferreceipts.
2. Data on exports and imports differ from those given by DGCI&S on account of differences in coverage, valuation, and timing.
Source: RBI.


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