KARACHI: Pakistan’s current account deficit has narrowed by 16.8 percent to $8.424 billion owing to declining imports and improved foreign remittances.
According to statistics released by State Bank of Pakistan (SBP) on Thursday, the current account deficit narrowed to $8.424 billion during July – January 2018/2019 as compared with the deficit of $10.124 billion in the corresponding period of the last fiscal year.
The remittances sent by overseas Pakistanis have increased by 12.22 percent to $12.774 billion during first seven months (July – January) 2018/2019 as compared with $11.383 billion in the corresponding period of the last fiscal year.
The import bill has also come down by 5.17 percent to $32.5 billion during July – January 2018/2019 as compared with $34.265 billion in the corresponding period of the last fiscal year.
The trade deficit narrowed by 9.66 percent to the deficit of $19.264 billion during first seven months of the current fiscal year as compared with $21.324 billion in the corresponding period of the last fiscal year.
The exports exhibited 2.24 percent growth to $13.23 billion during July – January 2018/2019 as compared with $12.94 billion in the same period of the last fiscal year.
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