Economics
Barclays Says India’s Current Account May Turn Surplus on Virus
India’s imports have contracted in 10 of the past 12 months.
Photographer: Dhiraj Singh/BloombergThis article is for subscribers only.
India is on course for a rare current-account surplus as the coronavirus pandemic roils demand for imports, according to Barclays Plc.
The bank’s current-account tracker points to a small deficit of $3 billion in 1Q 2020, followed by successive “unwelcome” surpluses, mirroring subdued economic activity, analysts led by Rahul Bajoria, its Mumbai-based senior economist, wrote in a note.