Current account deficit swells to $13.78 bn in 10 months

KARACHI: Pakistan’s current account deficit swelled to $13.78 billion during first 10 months (July – April) of the current fiscal year 2021/2022, State Bank of Pakistan (SBP) said on Friday May 20, 2022.

The balance of payment (BoP) witnessed a deficit of $543 million in the same period of the last fiscal year.

The balance of trade posted a deficit of $32.95 billion during the first 10 months of the current fiscal year as compared with the deficit of $22 billion.

The total trade deficit in both goods and services ballooned to $36.52 billion as compared with the deficit of $24.11 billion in the corresponding period of the last fiscal year.

Balance of primary income recorded a deficit of $41.05 billion during the period under review as compared with $27.83 billion in the corresponding period of the last fiscal year.

The inflows of workers’ remittances increased to $26.08 billion during July – April 2021/2022 as compared with $24.23 billion in the same period of the last fiscal year.

The current account deficit narrowed to $623 million in April 2022 as compared with $1.02 billion in March 2022. The current account deficit in April 2021 was $268 million.