The State Bank of Pakistan (SBP) has released the latest figures for the country’s current account, showing that in January it shifted from a deficit to a surplus.
According to a statement by the SBP, the current account recorded a surplus of $121 million in January, while in December it had shown a deficit of $390 million. The improvement on a monthly basis is largely attributed to an increase in remittances and exports, which strengthened the balance of external accounts.
However, on an annual basis, the situation remained different, with rising imports causing a decline in the current account.
Figures suggested that in the first seven months of the current fiscal year, the current account deficit has exceeded $1 billion, whereas during the same period last year, the current account had a surplus of $560 million.
