KARACHI: The current account deficit of the country has widened to $5.08 billion during July – October of fiscal year 2021/2022.
According to the balance of payment released by the State Bank of Pakistan (SBP) on Friday the current account deficit during first four months of the current fiscal year widened to $5.08 billion as compared with a surplus of $1.31 billion in the same months of the last year.
During the first four months of the current fiscal year the import bill surged by 64 per cent to $25.1 billion as compared with $15.17 billion in the same months of the last fiscal year.
The exports of the country registered an increase of 25 per cent to $9.46 billion during first four months of the current fiscal year as compared with $7.57 billion in the corresponding months of the last fiscal year.
However, trade deficit widened by 106 per cent to $15.64 billion during first four months of the current fiscal year as compared with the deficit of $7.6 billion in the corresponding months of the last year.
Meanwhile, the inflows of remittances grew by 12 per cent during the first four months of the current fiscal year over the same period last year.
Workers’ remittances increased to $10.55 billion during July – October of the current fiscal year as compared with $9.23 billion in the same period of the last year.
The current account deficit in October 2021 has been recorded at $1.66 billion as compared with the deficit of $1.13 billion in September 2021.
