KARACHI: The current account deficit of the country ballooned to $2.29 billion during first two months (July – August) of the current fiscal year.
The SBP issued details of Balance of Payment (BOP) on Friday.
The balance of payment has posted a surplus of $838 million in the same months of the last fiscal year.
The current account deficit has widened mainly significant trade gap.
The import bill increased by 74 per cent to $12.168 billion during first two months (July – August) of the current fiscal year as compared with $6.99 billion in the same period of the last fiscal year.
The exports of the country also grew by 28 per cent to $4.58 billion during first two months of the current fiscal year as compared with $3.58 billion in the corresponding months of the last fiscal year.
However, trade deficit ballooned by 122.58 per cent to $7.58 billion during first two months of the current fiscal year as compared with the deficit of $3.4 billion in the corresponding months of the last year.
Workers’ remittances increased to $5.36 billion during July – August of the current fiscal year as compared with $4.86 billion in the same period of the last year.
