KARACHI: The balance of payment has posted a current account surplus of $881 million during first eight months (July – February) of 2020/2021 as compared with a deficit of $2.74 billion in the corresponding months of the last fiscal year, State Bank of Pakistan (SBP) said on Sunday.
According to balance of payment data, trade deficit ballooned to $16.08 billion during first eight months of the current fiscal year as compared with the deficit of $13.16 billion in the same months of the last fiscal year.
However, the deficit in services trade narrowed to $1.13 billion during the period under review as compared with the deficit of $2.3 billion in the first eight months of the last fiscal year.
Overall balance on trade in goods and services posted a deficit of $17.42 billion during July – February 2020/2021 as compared with the deficit of $3.83 billion in the corresponding period of the last fiscal year.
Workers’ remittances grew to $18.74 billion during first eight months of the current fiscal year as compared with $15.1 billion in the same months of the last fiscal year.
Balance of secondary income increased to $21.54 billion during July – February 2020/2021 as compared with $16.56 billion in the corresponding period of the last fiscal year.
