Pakistan’s CAD slightly stretches to $1.9 billion in November

Karachi: Pakistan’s current account deficit slightly widened to $1.91 billion in November 2021 from $1.76 billion in October this year.

The current account balance recorded a surplus of $563 million in the same period of last year, the State Bank of Pakistan (SBP) reported on Monday.

In October, the deficit amounted to $1.76 billion. It was 8% lower than the deficit recorded in the month under review.

Current account deficit widened slightly to $1.91bn in Nov from $1.76bn in Oct, as imports outstripped strong exports & robust remittances. Imports were mainly lifted by high international commodity prices in addition to strong domestic economic recovery. https://t.co/Od8ikVvpBF pic.twitter.com/QhjegqdcDd

— SBP (@StateBank_Pak) December 20, 2021

The data showed during the first five months of the current fiscal year 2021-22, the country’s deficit reached $7.08 billion compared with a surplus of $1.86 billion during the same period last year.

In a twitter, the SPB said: “Current account deficit widened slightly to $1.91 billion in November from $1.76 billion in October as imports outstripped strong exports and robust remittances.”

It further added imports were mainly lifted by high international commodity prices in addition to strong domestic economic recovery.