Developments in India’s Balance of Payments for May 2026
RBI press-release 2026-2027/681 · 15 Jul 2026
Official title
Developments in India’s Balance of Payments for the Month of May 2026
RBI press-release 2026-2027/681 · 15 Jul 2026
Official title
Developments in India’s Balance of Payments for the Month of May 2026
Summary
Check the official recordThe Reserve Bank of India releases preliminary balance of payments data for May 2026. The current account records a net deficit of US$ 2.0 billion for the month. The capital account records a net deficit of US$ 2.4 billion. The overall balance shows a deficit of US$ 4.4 billion for May 2026. Monetary movements reflect a decrease of US$ 4.4 billion. The data includes merchandise trade, services, transfers, and income. It also includes foreign direct investment, foreign portfolio investment, and external commercial borrowings. The report provides comparative figures for May 2025 and the April-May period for both years.
Key dates
Who is affected
July 15, 2026
Developments in India’s Balance of Payments for the Month of May 2026
Preliminary data on India’s balance of payments (BoP) for May 2026 are presented in the following table.
Major Items of India's Balance of Payments (US$ billion)
| Item | May 2025 PR | May 2026 P | April-May 2025 PR | April-May 2026 P |
|---|---|---|---|---|
| A. Current Account (Net) [A.1 to A.4] | 0.7 | -2.0 | -4.1 | 2.8 |
| A.1 Merchandise (Net) [a-b] | -22.6 | -27.9 | -49.7 | -55.9 |
| a. Exports | 38.7 | 46.1 | 77.4 | 90.7 |
| b. Imports | 61.3 | 74.0 | 127.1 | 146.5 |
| A.2 Services (Net) [a-b] | 15.8 | 15.7 | 31.7 | 34.3 |
| a. Exports | 32.5 | 33.4 | 65.3 | 70.4 |
| b. Imports | 16.7 | 17.6 | 33.6 | 36.1 |
| A.3 Transfers (Net) | 10.5 | 13.6 | 20.0 | 29.6 |
| A.4 Income (Net) | -3.0 | -3.4 | -6.0 | -5.2 |
| B. Capital Account (Net) [B.1 to B.6] | 3.7 | -2.4 | 9.0 | -13.8 |
| B.1 Foreign Direct Investment (Net) [a-b] | 0.9 | -0.1 | 2.5 | 6.5 |
| a. In India (Net) | 3.6 | 2.4 | 8.6 | 13.8 |
| b. Abroad (Net) | 2.7 | 2.4 | 6.1 | 7.3 |
| B.2 Foreign Portfolio Investment (Net) [a-b] | 1.3 | -4.7 | -0.8 | -12.0 |
| a. In India (Net) | 1.6 | -4.5 | -0.2 | -11.3 |
| b. Abroad (Net) | 0.3 | 0.3 | 0.6 | 0.7 |
| B.3 External Commercial Borrowings (Net) [a-b] | 2.4 | 0.1 | 4.1 | 0.8 |
| a. To India (Net) | 1.5 | 2.1 | 3.0 | 2.3 |
| b. By India (Net) | -0.9 | 1.9 | -1.2 | 1.6 |
| B.4 Short-term Credit to India (Net) | -0.4 | 3.2 | -0.4 | 3.9 |
| B.5 Banking Capital (Net) | -1.6 | -1.1 | 1.6 | -4.7 |
| of which: NRI Deposits (Net) | 1.1 | 0.6 | 1.9 | 1.3 |
| B.6 Other Capital (Net) | 1.2 | 0.2 | 1.9 | -8.2 |
| C. Overall Balance (A+B) | 4.4 | -4.4 | 5.0 | -11.0 |
| D. Monetary Movements [Increase - / Decrease +] | -4.4 | 4.4 | -5.0 | 11.0 |
PR: Partially Revised; and P: Preliminary. Note: 1. Errors and omissions are included under ‘Other Capital’. 2. Total of sub-components may not tally with aggregate due to rounding off.
(Brij Raj) Press Release: 2026-2027/681 Chief General Manager ᮧेस ᮧकाशनी PRESS RELEASE
भारतीय ᳯरज़वर् बᱹक RESERVE BANK OF INDIA
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