"Underlying the lower current account deficit in Q3'2022-23 was a narrowing of merchandise trade deficit to $ 72.7 billion from $ 78.3 billion in Q2' 2022-23, coupled with robust services and private transfer receipts" The Reserve Bank said in its release of the preliminary balance of payments figures on Friday. Net outgo from the primary income account, mainly reflecting investment income payments, increased to $ 12.7 billion from US$ 11.5 billion a year ago.