Mnemonic | TAB.IIND | |
---|---|---|
Unit | Bil. INR, NSA | |
Adjustments | Not Seasonally Adjusted | |
Quarterly | 7.17 % | |
Data | 2023 Q4 | -874.65 |
2023 Q3 | -942.2 |
Source | Reserve Bank of India |
Release | Balance of Payments |
Frequency | Quarterly |
Start Date | 9/30/2010 |
End Date | 12/31/2023 |
Reference | Last | Previous | Units | Frequency | |
---|---|---|---|---|---|
Balance of Goods | Mar 2024 | -15,598 | -18,709 | Millions of US Dollars, NSA | Monthly |
Exports of Goods | Mar 2024 | 41,678 | 41,402 | Millions of US Dollars, NSA | Monthly |
Imports of Goods | Mar 2024 | 57,276 | 60,112 | Millions of US Dollars, NSA | Monthly |
Current Account Balance | 2023 Q4 | -874.65 | -942.2 | Bil. INR, NSA | Quarterly |
Exports of Goods and Services | 2023 Q4 | 1,612,560 | 1,579,063 | 10 Mil. INR, NSA | Quarterly |
Imports of Goods and Services | 2023 Q4 | 1,826,807 | 1,749,759 | 10 Mil. INR, NSA | Quarterly |
Net Exports | 2023 Q4 | -214,247 | -170,696 | 10 Mil. INR, NSA | Quarterly |
Real Exports of Goods and Services | 2023 Q4 | 972,383 | 999,043 | 10 Mil. FY 2012 INR, NSA | Quarterly |
Real Imports of Goods and Services | 2023 Q4 | 1,048,303 | 1,151,090 | 10 Mil. FY 2012 INR, NSA | Quarterly |
Real Net Exports | 2023 Q4 | -75,920 | -152,047 | 10 Mil. FY 2012 INR, NSA | Quarterly |
For India, the Balance of Payment is a statistical statement that systematically summarizes the economic transactions of Indian residents with the rest of the world on a quarterly basis. Concepts and definitions use to compile the balance of payments are broadly in line with BPM5. All transactions between residents and nonresidents are in scope.
The international investment position is a balance sheet showing the stock of external financial assets and liabilities. Its components are identical to those of the BOP financial account.
Active:
Predecessor:
Active:
Predecessor:
The source writes:
Scope of the data:
Data are disseminated in millions of U.S. dollars and crores of rupees (one crore = 10 million) on the balance of payments showing:
The data covers the entire economy. The data are compiled in accordance with the methodology set out in the fifth edition of the IMF's "Balance of Payments Manual".
Valuation:
For the most part, the Indian balance of payments statistics are compiled at market prices. The Balance of Payment is compiled in Indian rupees and the US dollar. Effective March 1993, the conversion of transactions from other currencies to Indian rupee is made by crossing monthly average spot buying and selling rate for US dollar in the foreign exchange market and the monthly average of cross rates of non-dollar currencies based on the London market.
The principle of valuation at the market price is generally adopted for recording BoP transactions. Recording of non-merchandise transactions is at the price reported by transactors to banks while putting through the financial transactions. Exports are valued on f.o.b. basis while imports are invoiced on c.i.f. basis. Investment transactions are recorded at actual market prices.
Recording basis:
For the most part, transactions are recorded on a payments (cash) basis. Reinvested earnings, interest income on reserves and interest payments are recorded on an accrual basis. Exports are recorded when they leave India (drawn from the data from the DGCI&S), after allowing for certain timing and valuation adjustments.
Grossing/netting procedures:
Grossing/netting procedures are broadly in accordance with the fifth edition of the IMF's "Balance of Payments Manual". Most transactions in the current account are recorded on a gross basis and on a net basis in the financial account, separately for assets and liabilities.
Source data collection programs:
Data for India’s BALANCE OF PAYMENTS are obtained primarily as a by-product of ITRS i.e. the system of reporting of foreign exchange transactions undertaken by banks in fortnightly returns to RBI. These are supplemented by collection of information from other sources viz., Ministry of Finance, Ministry of Commerce, Directorate General of Commercial Intelligence & Statistics and financial institutions. Item-wise details are as under:
Compilation practice- Source data statistical techniques:
For the balance of payments current account balance, we back-extend (1949 to 2010) using the BPM5 predecessor. We construct a seasonally adjusted counterpart.
The data are provisional when first released and are indicated as such. However, the provisional data are deemed final unless major changes occur. In such instances the revisions to the data are clearly identified. Overall, revisions follow a regular pattern. The quarterly revision cycle is as follows: In the June quarter, no revisions. In the September quarter, June quarter data are revised. In the December quarter, both the June and September quarters are revised. In the March quarter, all three previous quarters are revised, and all earlier years (by quarter) for which there are new data.
When data are first released, they are regarded as or shown as preliminary. When data are revised, the whole time period, not just those series that have been revised, is denoted “PR” which stands for “partially revised.” The revised data are published in the same format as the initial estimates.
India's fiscal year runs from April 1, YYYY to March 31, YYYY+1. For example, fiscal year 2020-2021 runs from April 1, 2020 to March 31, 2021.
At the source:
At IMF (SDDS):