| (US$ million) | | | 2021-22 | 2022-23 | 2023-24 | 2024-25 | 2025-26 (P) | | 1 | 2 | 3 | 4 | 5 | 6 | | A. CURRENT ACCOUNT | | | | | | | 1 Exports, f.o.b. | 4,29,164 | 4,56,073 | 4,41,443 | 4,42,082 | 3,33,369 | | 2 Imports, c.i.f. | 6,18,623 | 7,21,364 | 6,86,354 | 7,29,028 | 5,84,992 | | 3 Trade Balance | -1,89,459 | -2,65,291 | -2,44,911 | -2,86,947 | -2,51,623 | | 4 Invisibles, Net | 1,50,694 | 1,98,236 | 2,18,800 | 2,63,887 | 2,21,385 | | a) ‘Non-factor’ Services of which : | 1,07,516 | 1,43,283 | 1,62,752 | 1,88,836 | 1,56,273 | | Software Services | 1,09,540 | 1,31,284 | 1,42,074 | 1,59,612 | 1,32,419 | | b) Income | -37,269 | -45,923 | -49,736 | -48,340 | -37,170 | | c) Private Transfers | 81,230 | 1,01,776 | 1,06,631 | 1,24,556 | 1,03,212 | | 5 Current Account Balance | -38,766 | -67,055 | -26,111 | -23,060 | -30,238 | | B. CAPITAL ACCOUNT | | | | | | | 1 Foreign Investment, Net (a+b) | 21,809 | 22,834 | 54,233 | 4,523 | -1,276 | | a) Direct Investment | 38,587 | 27,986 | 10,152 | 959 | 3,040 | | b) Portfolio Investment | -16,777 | -5,152 | 44,081 | 3,564 | -4,316 | | 2 External Assistance, Net | 5,366 | 5,521 | 7,460 | 6,258 | 1,010 | | 3 Commercial Borrowings, Net | 8,135 | -3,790 | -86 | 15,912 | 6,700 | | 4 Short Term Credit, Net | 20,105 | 6,539 | -833 | 7,154 | 15,318 | | 5 Banking Capital of which : | 6,669 | 20,980 | 40,543 | -9,794 | 1,028 | | NRI Deposits, Net | 3,234 | 8,989 | 14,702 | 16,163 | 11,122 | | 6 Rupee Debt Service | -71 | -68 | -72 | -70 | -63 | | 7 Other Capital, Net& | 23,794 | 6,928 | -11,833 | -7,359 | -22,644 | | 8 Total Capital Account | 85,807 | 58,943 | 89,411 | 16,625 | 72 | | C. Errors & Omissions | 459 | -1024 | 402 | 1,402 | -653 | | D. Overall Balance [A(5)+B(8)+C] | 47,501 | -9,135 | 63,702 | -5,032 | -30,818 | | E. Monetary Movements (F+G) | -47,501 | 9,135 | -63,702 | 5,032 | 30,818 | | F. IMF, Net | 0 | 0 | 0 | 0 | 0 | | G. Reserves and Monetary Gold (Increase -, Decrease +) | -47,501 | 9,135 | -63,702 | 5,032 | 30,818 | | of which : SDR Allocation | -17,862 | 0 | 0 | 0 | 0 | | Memo: As a ratio to GDP* | | | | | | | 1 Trade Balance | -6.0 | -8.2 | -7.0 | -7.6 | -8.7 | | 2 Net Services | 3.4 | 4.4 | 4.6 | 5.0 | 5.4 | | 3 Net Income | -1.2 | -1.4 | -1.4 | -1.3 | -1.3 | | 4 Current Account Balance | -1.2 | -2.1 | -0.7 | -0.6 | -1.1 | | 5 Capital Account, Net | 2.7 | 1.8 | 2.6 | 0.4 | 0.0 | | 6 Foreign Investment, Net | 0.7 | 0.7 | 1.5 | 0.1 | 0.0 | P : Data are provisional and pertain to April-December 2025.
& : Includes delayed export receipts, advance payments against imports, net funds held abroad, and advances received pending issue of shares under FDI.
* : Data for GDP from 2022-23 to 2025-26 are at 2022-23 base year and for 2021-22 are at 2011-12 base year.
Notes: 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.
Source: RBI. | Index |