External Sector

Table 4.4 : Balance of Payments : Summary

(US$ million)

2009-10 2010-11 2011-12 2012-13 2013-14

(PR)
(P)

II

III

IV
V

Current account
i.
Exports
ii.
Imports
iii. Trade balance
iv.
Invisibles (Net)
A. Services
B. Transfer
C. Income
Current account balance
Capital account
i.
External assistance
ii.
ECBs
iii. Short-term debt
iv.
Banking capital
of which
Non-resident deposits
v.
Foreign investment
A. FDI
B. Portfolio investment
vi. Other flows
Capital account balance
Errors & omissions
Capital account balance
(including errors &
omissions)
Overall balance
Reserve change
(-)indicates increase,
+ indicates decrease

61

2013-14
2014-15
H1 (Apr.- H1 (Apr.Sept. 2013) Sept. 2014)
(P)
(P)

182442
300644
-118202
80022
36016
52045
-8038
-38181

256159
383481
-127322
79269
44081
53140
-17952
-48053

309774
499533
-189759
111604
64098
63494
-15988
-78155

306581
502237
-195656
107493
64915
64034
-21455
-88163

318607
466216
-147609
115212
72965
65276
-23028
-32397

155152
238941
-83789
56830
35239
32744
-11153
-26959

166974
240188
-73214
55272
36069
32757
-13554
-17942

2890
2000
7558
2083

4941
12160
12034
4962

2296
10344
6668
16226

982
8485
21657
16570

1032
11777
-5044
25449

130
2455
589
11487

606
3429
69
-542

2922
50362
17966
32396
-13259
51634
-12
51622

3238
42127
11834
30293
-12484
63740
-2636
61104

11918
39231
22061
17170
-7008
67755
-2432
65323

14842
46710
19819
26891
-5105
89300
2689
91989

38892
26386
21564
4822
-10813
48787
-882
47905

13700
7762
14589
-6827
-6619
15806
453
16259

6473
38385
16183
22202
-3407
38539
-2522
36017

13441
-13441

13050
-13050

-12831
12831

3826
-3826

15508
-15508

-10701
10701

18076
-18076

Source : RBI
Notes : PR: Partially Revised; P: Provisional

some deceleration in export growth owing to

moderation in oil prices from an average of US$
105.1 per barrel in 2013-14 (second quarter) to
US$ 98.9 per barrel in 2014-15 (second
quarter).The outcome in terms of imports was
again somewhat mixed in the two quarters of the
first half of the current fiscal relative to last year.
This was largely due to the base effect of high gold
imports in the first quarter of 2013-14 and a sharp

correction in such imports in the second quarter

of 2013-14 as against a steady pick-up in the
first quarter of 2014-15 followed by a surge in
imports in the second quarter reflecting seasonal
demand spike and the easing of restrictions on gold
imports. The mixed outcome also owed to the pickup in non-gold non-POL imports in 2014-15
relative to the compression in 2013-14. Invisible
account covers (a) services, (b) transfers, and