KARACHI: Pakistan’s current account deficit sharply down by 64 percent in first quarter (July – September) 2019/2020 to $1.546 billion as compared with $4.287 billion in the same period of the last fiscal year, according to Balance of Payment (BoP) data released by State Bank of Pakistan (SBP) on Friday.
Experts attributed the decline in current account deficit to substantial decrease in the country’s total import bill.
The trade deficit declined by 35 percent to $5.72 billion during first quarter of current fiscal year as compared with $8.79 billion in the same period of the last year.
The import bill declined by 21 percent to $11.25 billion in July – September 2019/2020 as compared with $14.165 billion in the corresponding quarter of the last fiscal year.
The net deficit from current and capital account also narrowed to $1.44 billion during first quarter of current fiscal year as compared with $4.181 billion in the corresponding period of the last fiscal year.
