Karachi, June 17, 2025 – Pakistan has achieved a notable improvement in its external finances, reporting a current account surplus of $1.81 billion during the first 11 months (July–May) of the current fiscal year 2024–25.
This marks a strong turnaround from a current account deficit of $1.57 billion recorded in the same period last year.
The latest figures, released by the State Bank of Pakistan (SBP), highlight the country’s improved financial position. This current account surplus is mainly attributed to a sharp rise in remittances sent by overseas Pakistanis and efforts to control the country’s import bill during the review period.
Remittances surged significantly, with inflows reaching nearly $35 billion between July and May of the current fiscal year. According to the SBP, workers’ remittances stood at $34.9 billion, showing an impressive 28.8% increase compared to $27.1 billion received in the same period last year. These foreign inflows have played a key role in helping Pakistan maintain a current account surplus.
On the trade front, Pakistan’s exports increased by 5% to $29.44 billion in the first 11 months of FY25, compared to $28.12 billion in the corresponding period last year, according to data from the Pakistan Bureau of Statistics (PBS). However, imports also rose by 8%, reaching $53.45 billion compared to $49.82 billion in the previous year. This caused the trade deficit to expand by 10.63%, touching $24 billion versus $21.69 billion last year.
Despite the wider trade deficit, the overall current account remained in surplus due to robust remittances and better foreign exchange management.
In monthly terms, the SBP reported a current account deficit of $103 million in May 2025, compared to a surplus of $47 million in April 2025 and a deficit of $235 million in May 2024.
The sustained current account surplus in 11MFY25 reflects improved macroeconomic stability and provides a positive signal for investors and policymakers. If maintained, this surplus could help ease pressure on the country’s foreign reserves and support the Pakistani rupee in the coming months.