What is the current account deficit of India as a percentage of GDP in 2023? (20
Practice Questions
Q1
What is the current account deficit of India as a percentage of GDP in 2023? (2023)
1.2%
2.5%
3.1%
4.0%
Questions & Step-by-Step Solutions
What is the current account deficit of India as a percentage of GDP in 2023? (2023)
Step 1: Understand what a current account deficit is. It means that a country is spending more on foreign trade than it is earning.
Step 2: Know that GDP stands for Gross Domestic Product, which is the total value of all goods and services produced in a country.
Step 3: Find the estimated current account deficit for India in 2023. This information is usually provided by economic reports or financial institutions.
Step 4: Calculate the current account deficit as a percentage of GDP. This is done by dividing the current account deficit by the GDP and then multiplying by 100.
Step 5: According to estimates, India's current account deficit is around 2.5% of GDP in 2023.
