KARACHI: The current account of the country registered a surplus of $792 million during first quarter (July – September) 2020/2021, State Bank of Pakistan (SBP) said on Wednesday.
According to Balance of Payment (BoP) details issued by the SBP, the country witnessed current account deficit of $1.49 billion in the same quarter of the last fiscal year.
The current account posted the surplus despite widening of trade deficit during the same quarter of the current fiscal year.
The trade deficit increased by 2.6 percent to $5.83 billion during first quarter of the current fiscal year as compared with the deficit of $5.69 billion in the same quarter of the last fiscal year.
The import bill of the country grew by one percent to $11.31 billion during first quarter of the current fiscal year as compared with $11.199 billion in the corresponding quarter of the last fiscal year.
The exports of the country however fell nominally by 0.65 percent to $5.47 billion during July – September 2020 as compared with $5.51 billion in the same period of the last fiscal year.
On a cumulative basis, workers’ remittances rose to a record $ 7.1 billion in first quarter of current fiscal year, 31.1 percent higher than the same period last year.
