Current Account Deficit for 1HFY19 shrinks by 4.4 percent

January 17, 2019 (MLN): Current Account Deficit (CAD) for July-Dec 2018 has shrunken by 4.43% or $370 million as compared to the corresponding period of prior year, revealed formal figures released by the State Bank of Pakistan (SBP).

In December 2018 alone, the deficit was $1.66 billion whereas the cumulative figure the half year of FY19 sets in at $7.98 billion.

As per the data, deficit for 1HFY19 due to trade in goods has increased to $15.55 billion, up from $14.76 billion recorded last year. This rise in deficit comes about as a result of increased imports of good FOB.

Meanwhile, the trade deficit in services for the six month period clocks in at $1.95 billion, an improvement from $2.75 billion deficit recorded a year earlier.

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