Saturday, December 4, 2021  | 28 Rabiulakhir, 1443
Samaa TV
Facebook Twitter Youtube
HOME > Money

SBP: Current account deficit rose to Rs3.4 billion in Jul-Sept

Central bank says the shortfall affecting foreign exchange reserves

SAMAA | - Posted: Oct 20, 2021 | Last Updated: 1 month ago
Posted: Oct 20, 2021 | Last Updated: 1 month ago

Photo: FILE

The current account deficit touched the Rs3.4 billion mark during July-September this year on account of rising imports which was Rs80.65 million more than last year’s figures, data released by the State Bank of Pakistan showed on Wednesday.

The central bank has so far taken several steps to contain this deficit and the recent data shows a limited amount of success in this regard.

In September, the current account deficit was recorded at Rs1.11 billion which was lower than the last month when it hovered at Rs1.47 billion.

This deficit is also putting pressure on the foreign exchange reserves.

The current account deficit stems from a trade deficit which is calculated by subtracting imports from exports.

A month ago in September, the country exported goods worth $2.64 billion while importing items amounting to $6.07 billion. The cumulative trade deficit in September was $3.43 billion against $3.65 billion a month ago in August. The trade deficit is still high on a monthly basis.

The central bank said that although remittances were sent by Pakistani expatriates were blocking the trade deficit from making an abrupt plunge.

Data released by SBP showed that remittances were worth $2.77 billion. It had been $8.49 billion during the July-September period.

During September this year, Pakistan imported goods worth $7.24 billion while remittances touched $8.03 billion during the same month.

Follow SAMAA English on FacebookTwitter, and Instagram.

FaceBook WhatsApp

Tell us what you think:

Your email address will not be published.

FaceBook WhatsApp

SBP: Current account deficit up at Rs3.4 billion in Jul-Sep, Pakistan account deficit, State Bank of Pakistan, Pakistan deficit

A list of every leader ever on PTI’s economic team
Pakistan’s circular debt increases by Rs139b
PSX tumbles for second consecutive day, loses 197 points
Pakistan gold price climbs for third consecutive day
About Us   |   Anchor Profiles   |   Online Advertising   |   Contact Us   |   Feedback   |   Apps   |   FAQs   |   Authors   |   Comment Policy
Facebook   |   Twitter   |   Instagram   |   YouTube   |   WhatsApp