FX.co ★ India Swings to Current Account Surplus in Q1 2026, Reversing Late-2025 Deficit

India’s external balance strengthened markedly in early 2026, as the country’s current account shifted from deficit to surplus on a quarter-over-quarter basis.

In the fourth quarter of 2025, India’s current account stood at -1.30% of GDP, indicating a deficit position. By the first quarter of 2026, that figure had improved to 0.70% of GDP, moving the current account into surplus. The data, updated on 8 June 2026, highlight a notable quarter-over-quarter turnaround, contrasting the Q1 2026 improvement with the deterioration recorded in the previous quarter’s comparison.

The quarter-over-quarter framework used for the release means the latest “actual” result reflects how the first quarter of 2026 compares with the fourth quarter of 2025, while the “previous” comparison captured changes between the fourth and third quarters of 2025. This underscores the scale of the swing in India’s external position as the new year began.