India’s Overall Balance of Payments

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Published on 29 August 2016

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India’s Overall Balance of Payments

(US $ million)
	2011-12	2012-13	2013-14 PR	2014-15 PR	2015-16 P
1	2	3	4	5	6
A. CURRENT ACCOUNT
1 Exports, f.o.b.	309,774	306,581	318,607	316,545	266,365
2 Imports, c.i.f.	499,533	502,237	466,216	461,484	396,444
3 Trade Balance	-189,759	-195,656	-147,609	-144,940	-130,079
4 Invisibles, Net	111,604	107,493	115,313	118,081	107,928
a) ‘Non-Factor’ Services of which :	64,098	64,915	73,066	76,529	69,676
Software Services	60,957	63,504	67,002	70,400	71,454
b) Income	-15,988	-21,455	-23,028	-24,140	-24,375
c) Private Transfers	63,469	64,342	65,481	66,264	63,139
5 Current Account Balance	-78,155	-88,163	-32,296	-26,859	-22,151
B. CAPITAL ACCOUNT
1 Foreign Investment, Net (a+b)	39,231	46,711	26,386	73,456	31,891
a) Direct Investment	22,061	19,819	21,564	31,251	36,021
b) Portfolio Investment	17,170	26,891	4,822	42,205	-4,130
2 External Assistance, Net	2,296	982	1,032	1,725	1,505
3 Commercial Borrowings, Net	10,344	8,485	11,777	1,570	-4,529
4 Short Term Credit, Net	6,668	21,657	-5,044	-111	-1,610
5 Banking Capital of which :	16,226	16,570	25,449	11,618	10,630
NRI Deposits, Net	11,918	14,842	38,892	14,057	16,052
6 Rupee Debt Service	-79	-58	-52	-81	-73
7 Other Capital, Net*	-6,929	-5,047	-10,761	1,109	3,315
8 Total Capital Account	67,755	89,300	48,787	89,286	41,128
C. Errors & Omissions	-2,432	2,689	-983	-1,021	-1,073
D. Overall Balance [A(5)+B(8)+C]	-12,831	3,826	15,508	61,406	17,905
E. Monetary Movements (F+G)	12,831	-3,826	-15,508	-61,406	-17,905
F. IMF, Net
G. Reserves and Monetary Gold (Increase -, Decrease +) of which : SDR allocation	12,831	-3,826	-15,508	-61,406	-17,905
Memo: As a ratio to GDP
1 Trade Balance	-10.4	-10.7	-7.9	-7.1	-6.3
2 Net Services	3.5	3.5	3.9	3.7	3.4
3 Net Income	-0.9	-1.2	-1.2	-1.2	-1.2
4 Current Account Balance	-4.2	-4.8	-1.7	-1.3	-1.1
5 Capital Net (Excld. changes in reserves)	3.7	4.9	2.6	4.4	2.0
6 Foreign Investment, Net	2.2	2.6	1.4	3.6	1.5
PR: Partially Revised. P: Provisional. * : 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 transfer receipts. 2. Data on exports and imports differ from those given by DGCI&S on account of differences in coverage, valuation and timing.