Pakistan recorded a current account surplus of $582 million in December 2024, marking a substantial 109% increase compared to the previous year's performance of $279 million.
The State Bank of Pakistan's data reveals a consistent trend of financial improvement, with this being the fifth consecutive month of current account surplus. From July to December 2024, the cumulative current account surplus reached $1.21 billion, underscoring the economy's growing stability.
Worker remittances surged to $3.079 billion in December 2024, representing a 29% year-on-year increase. Exports reached $3.838 billion, showing a 9% growth compared to the same period last year. The surplus stems from improved trade balance and increased foreign worker remittances.
Analysts attribute this positive momentum to effective policies implemented by financial institutions and strategic economic management. The consistent growth in remittances and exports has played a crucial role in strengthening Pakistan's economic fundamentals.
The current account surplus indicates potential improvements in foreign exchange reserves, trade dynamics, and overall economic resilience. It suggests a promising trajectory for Pakistan's economic landscape in the coming months.
