Pakistan current account surplus at $940mn in first five months

Karachi: Pakistan’s current account was in surplus at $720 million in November and $940 million in the first five months of the fiscal year.

According to the State Bank of Pakistan (SBP), the current account in surplus at $729 million in November 2024 was the highest since February 2015.

According to the State Bank, the trade, services and income deficit was $2.35 billion in November 2024. The current account surplus was $944 million in the first five months of the fiscal year. The trade, services and income deficit from July to November was $14.55 billion. Domestic exports from July to November were $13.28 billion. Domestic imports from July to November were $22.97 billion.

The State Bank says that the trade deficit for the first five months of the fiscal year was $96.8 million. The five-month trade deficit is 10 percent higher than the first five months of the previous fiscal year. Domestic imports from July to November were $22.97 billion. The five-month trade deficit was $9.68 billion. The five-month trade deficit was 10 percent higher than the first five months of the previous fiscal year.

According to the SBP, there was a 33 percent surplus this year to cover the deficit. Workers’ remittances were $14.76 billion in five months. After five months of external payments and receipts, there was a surplus of $940 million.

According to the State Bank, IT exports in November were $324 million. November’s IT exports were 2 percent lower than October.