{"id":28301,"date":"2022-03-09T15:45:52","date_gmt":"2022-03-09T10:15:52","guid":{"rendered":"https:\/\/tradebrains.in\/features\/biz-study-cad\/"},"modified":"2022-03-09T16:31:38","modified_gmt":"2022-03-09T11:01:38","slug":"biz-study-cad","status":"publish","type":"post","link":"https:\/\/tradebrains.in\/features\/biz-study-cad\/","title":{"rendered":"Surge in commodity prices may push CAD to 2.8% of GDP in Q3: Report"},"content":{"rendered":"<div class=\"trade-content_2\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-563033539\"><p><a href=\"https:\/\/tradebrains.in\/get\/telegram\/\"><img decoding=\"async\" class=\"alignnone wp-image-101992\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2023\/01\/telegram-channel-300x119.png\" alt=\"\" width=\"148\" height=\"59\" \/><\/a> <a href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMN3Epgswxc--Aw?hl=en-IN&amp;gl=IN&amp;ceid=IN%3Aen\"><img decoding=\"async\" class=\"alignnone wp-image-123430\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png\" alt=\"follow-on-google-news\" width=\"222\" height=\"61\" srcset=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png 300w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-150x41.png 150w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news.png 468w\" sizes=\"(max-width: 222px) 100vw, 222px\" \/><\/a><\/p>\n<\/div><p>Mumbai, Mar 9 (PTI) The country&#8217;s current account deficit (CAD) is likely to widen to a 13-quarter high of USD 23.6 billion or 2.8 per cent of GDP in October-December 2021-22 due to higher commodity prices following the Russia-Ukraine conflict, India Ratings and Research (Ind-Ra) said in a report.<\/p><div class=\"trade-content_7\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-3418434478\"><!-- Composite Start --> \r\n <div id=\"M923760ScriptRootC1549812\"> \r\n <\/div> \r\n <script src=\"https:\/\/jsc.mgid.com\/t\/r\/tradebrains.in.1549812.js\" async> \r\n <\/script> \r\n <!-- Composite End --><\/div>\n<p> The report said although the Omicron-led COVID wave has subsided, the geopolitical risks to the global recovery have increased due to the Russia-Ukraine conflict.<\/p>\n<p> \u201cWe expect the CAD to come in at the second-highest level of USD 23.6 billion (2.8 per cent of GDP; 13-quarter high) in Q3 FY22 as against a deficit of USD 9.6 billion (1.3 per cent of GDP) in Q2 FY22,&#8221; the agency said.<\/p>\n<p> In Q3 FY21, the deficit was USD 2.2 billion (0.3 per cent of GDP).<\/p><div class=\"trade-content_5\" id=\"trade-2778801125\"><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-4023722985638610\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- in_content_2_news -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-4023722985638610\"\r\n     data-ad-slot=\"7925020301\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><\/div>\n<p> The direct effects of the Russia-Ukraine conflict have pushed commodity prices and freight and transportation costs higher; crude oil prices have been on a boil, it said.<\/p>\n<p> In addition, the Indian rupee, which averaged at 75 against the dollar in February 2022, is expected to average around 76 this month which might result in a depreciation of 0.29 per cent in fourth  quarter over the previous three-month period, the report said.<\/p>\n<p> The agency said that despite the\u00a0adverse\u00a0effects of the Russia-Ukraine conflict, the merchandise imports are likely to recover further due to the normalising domestic economy, higher commodity prices and depreciation of the rupee, pushing the merchandise imports bill to over USD 166 billion in Q4 FY22.<\/p>\n<p> The FY22 merchandise import bill is estimated at an all-time high of over USD 606 billion, it said.<\/p>\n<p> However, the agency believes that merchandise exports might be constrained to USD 101.3 billion in Q4 FY22, taking it to USD 406 billion in FY22.<\/p>\n<p> \u201cAs a result, the merchandise trade deficit is likely to come at USD 200 billion in FY22. All in all, CAD is expected at over USD 25 billion in Q4 FY22,\u201d the report said.<\/p><div class=\"trade-content-10\" id=\"trade-4269406865\"><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-4023722985638610\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- in_content_3_news -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-4023722985638610\"\r\n     data-ad-slot=\"2969612066\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><\/div>\n<p> To achieve the export target of USD 400 billion in FY22, exports will have to attain the level of USD 22.61 billion in March 2022, the report said.<\/p>\n<p> Given the trend so far in this fiscal year, the exports appear to be on track to breach the USD 400 billion target, despite the heightened geopolitical risk due to the Russia\u2013Ukraine conflict, it added. PTI HV  ANU ANU<\/p>\n<div class=\"trade-after-content\" id=\"trade-4176039673\"><div id=\"taboola-below-article-thumbnails\"><\/div>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({\r\n    mode: 'alternating-thumbnails-a',\r\n    container: 'taboola-below-article-thumbnails',\r\n    placement: 'Below Article Thumbnails',\r\n    target_type: 'mix'\r\n  });\r\n<\/script>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({flush: true});\r\n<\/script><\/div>","protected":false},"excerpt":{"rendered":"<p>Mumbai, Mar 9 (PTI) The country&#8217;s current account deficit (CAD) is likely to widen to a 13-quarter high of USD 23.6 billion or 2.8 per cent of GDP in October-December 2021-22 due to higher commodity prices following the Russia-Ukraine conflict, India Ratings and Research (Ind-Ra) said in a report. The report said although the Omicron-led [&hellip;]<\/p>\n","protected":false},"author":13,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[1698,1697,31],"tags":[],"class_list":["post-28301","post","type-post","status-publish","format-standard","hentry","category-commodities","category-economy","category-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v20.5 (Yoast SEO v25.0) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Surge in commodity prices may push CAD to 2.8% of GDP in Q3: Report - Trade Brains Features<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/tradebrains.in\/features\/biz-study-cad\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Surge in commodity prices may push CAD to 2.8% of GDP in Q3: Report\" \/>\n<meta property=\"og:description\" content=\"Mumbai, Mar 9 (PTI) The country&#8217;s current account deficit (CAD) is likely to widen to a 13-quarter high of USD 23.6 billion or 2.8 per cent of GDP in October-December 2021-22 due to higher commodity prices following the Russia-Ukraine conflict, India Ratings and Research (Ind-Ra) said in a report. 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