Pakistan’s current account swung to a deficit of $27 million in May 2024, reversing from a surplus of $50 million recorded in April 2024, according to a report by the State Bank of Pakistan (SBP).
This shift highlights challenges in the country’s trade and economic landscape.
Experts attribute the current account deficit to a rise in exports and a widening trade deficit. Despite a surplus in the previous month, the deficit for the current fiscal year reached $46 million over the past 11 months.
This marks a significant improvement compared to the $3.8 billion deficit recorded during the same period last fiscal year, indicating a positive trend on an annual basis.
The central bank’s report underscores the fluctuating nature of Pakistan's current account, reflecting broader economic dynamics and the need for continued vigilance and strategic economic planning.
