KARACHI: The current account deficit has narrowed by 75 percent during first half (July-December) 2019/2020 owing to significant inflows and reduction in trade deficit.
According to statistics of Balance of Payment (BoP) issued by State Bank of Pakistan (SBP) on Monday, the current account deficit reduced to $2.153 billion in first six months of current fiscal year as compared with the deficit of $8.614 billion in the corresponding period of the last fiscal year.
The trade deficit fell by 30 percent to $11.69 billion during first half of current fiscal year as compared with the deficit of $16.77 billion in the same half of the last fiscal year, according to data issued by Pakistan Bureau of Statistics (PBS).
The imports fell by 17 percent to $23.23 billion during July – December 2019 as compared with $27.95 billion in the corresponding period of the last fiscal year.
However exports witnessed 3.15 percent growth to $11.53 billion in the first half of current fiscal year as compared with $11.18 billion in the corresponding period of the last fiscal year.
The overseas Pakistanis sent $11.39 billion in first half of the current fiscal year as compared with $11.03 billion in the corresponding period of the last fiscal year.
