India's current account deficit narrowed to USD 5.2 billion in August, compared with USD 6.1 billion in the same month last year, supported by a lower merchandise trade deficit and higher surpluses in services trade, according to preliminary data released by the Reserve Bank of India (RBI) on Thursday.
The merchandise trade deficit declined to USD 26.6 billion in August from USD 27.6 billion a year earlier.
Merchandise exports increased to USD 44.7 billion in August from USD 35.1 billion in the corresponding month last year, while imports rose to USD 71.3 billion from USD 62.7 billion, the RBI data showed.