Current account posts $912 million surplus in seven months

KARACHI: The current account recorded a surplus of $912 million during first seven months of the current fiscal year as compared with a deficit of $2.54 billion in the corresponding months of the last fiscal year, according to balance of payment (BOP) data released by the State Bank of Pakistan (SBP) on Monday.

The balance of trade in goods posted a deficit of $13.74 billion during the first seven months of the current fiscal year as compared with the deficit of $11.598 billion in the corresponding months of the last fiscal year.

The balance of trade in services posted a deficit of $1.115 billion during July – January of the current fiscal year as compared with the deficit of $1.89 billion in the same period of the last fiscal year.

The balance of primary income posted a deficit of $3.06 billion during the first seven months under review as compared with the deficit of $3.612 billion in the same months of the last fiscal year.

The inflow of workers’ remittances grew to $16.477 billion during July – January 2020/2021 as compared with $13.278 billion in the same period of the last fiscal year.