India's Current Account was worst in 2011

Today's chart of the day shows that India had the worst current account position in 2011 as compared to its peers both in the developed and developing world. Given that India's trade account has been running into a deficit, the same has had an impact on the overall current account deficit as well. The country's trade deficit has widened largely on account of rising prices of petroluem, gold and silver, which account for a significant chunk of its import bill. Although the rupee depreciating against the dollar should bridge this gap to a certain effect, the change has not been significant uptil now. Meanwhile other BRIC nations (i.e. China, Brazil and Russia) have fared better than India on this front.