India's current account posts $2 billion deficit in May
Business
India's current account slipped into a $2 billion deficit this May, flipping from a $700 million surplus last year.
The main reason? Imports soared, pushing the trade gap to $27.9 billion compared to $22.6 billion in May 2025.
India imports jump to $74 billion
Exports did grow (up to $46.1 billion from last year's $38.7 billion), but imports jumped even more, hitting $74 billion.
On the bright side, steady service exports ($15.7 billion) and higher net transfers ($13.6 billion) helped cushion things a bit.
However, foreign investors pulled out funds, leading to a capital outflow of $2.4 billion and leaving India with an overall balance of payments deficit of $4.4 billion for the month.