KARACHI, April 16, 2026 — Pakistan recorded a current account surplus of $1.07 billion in March 2026, according to balance of payments data released by the State Bank of Pakistan (SBP) on Thursday, reflecting an improvement from the previous month despite ongoing regional tensions.
The surplus, however, was lower than the $1.27 billion recorded in March 2025 but significantly higher than the $231 million surplus posted in February 2026.
The improvement came during a period of heightened geopolitical uncertainty following military escalation involving Israel and the United States against Iran in late February, which had raised concerns about global trade and financial flows.
According to the SBP, Pakistan’s combined balance of goods, services and primary income registered a deficit of $3 billion in March 2026, slightly wider than the $2.98 billion deficit recorded in the same month last year.
Workers’ remittances — a key support for the external account — stood at $3.83 billion in March, compared with $4.05 billion a year earlier. Analysts said that while remittances remained strong, the slight decline reflects normalization after record inflows in previous periods.
For the first nine months of the fiscal year (July–March 2025-26), Pakistan recorded a marginal current account surplus of $8 million, sharply down from a surplus of $1.67 billion in the same period of the previous fiscal year.
Economists said the March surplus highlights the resilience of Pakistan’s external sector, supported by controlled imports and steady inflows. However, they cautioned that sustaining surpluses could be challenging amid volatile global conditions and potential pressure on remittances and exports.
The SBP data suggests that while short-term external stability has improved, Pakistan’s external account remains sensitive to global economic and geopolitical developments.
