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Current account deficit narrows by 16.8pc in seven months
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Current account deficit narrows by 16.8pc in seven months

February 21, 2019May 22, 2022

KARACHI: Pakistan’s current account deficit has narrowed by 16.8 percent to $8.424 billion owing to declining imports and improved foreign remittances.

According to statistics released by State Bank of Pakistan (SBP) on Thursday, the current account deficit narrowed to $8.424 billion during July – January 2018/2019 as compared with the deficit of $10.124 billion in the corresponding period of the last fiscal year.

The remittances sent by overseas Pakistanis have increased by 12.22 percent to $12.774 billion during first seven months (July – January) 2018/2019 as compared with $11.383 billion in the corresponding period of the last fiscal year.

The import bill has also come down by 5.17 percent to $32.5 billion during July – January 2018/2019 as compared with $34.265 billion in the corresponding period of the last fiscal year.

The trade deficit narrowed by 9.66 percent to the deficit of $19.264 billion during first seven months of the current fiscal year as compared with $21.324 billion in the corresponding period of the last fiscal year.

The exports exhibited 2.24 percent growth to $13.23 billion during July – January 2018/2019 as compared with $12.94 billion in the same period of the last fiscal year.

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Current account deficit narrows by 4.43pc to $7.98bn in first half

Tags current account deficitforeign remittancesSBPState Bank of Pakistantrade deficit
Faisal Shah

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EDITOR’S CHOICE

--BUDGET 2022/2023 PROPOSALS
--Sales Tax Act, 1990 (Updated up to June 30, 2021)
--Tax Laws (Third Amendment) Ordinance 2021
--Income Tax Ordinance updated up to June 30, 2021
--Updated withholding tax card
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