Current account deficit improves by 79% MoM to $160m in August

By MG News | September 14, 2023 at 09:19 PM GMT+05:00
September 14, 2023 (MLN): The current account deficit for August 2023 shrank by 79.35% MoM to stand at $160 million compared to the deficit of $775m in July 2023, the latest data issued by the State Bank of Pakistan (SBP) revealed today.
While in the same month last year, the country recorded a current account deficit of $774m, depicting an improvement of 79.33% YoY.
Total exports increased by 13.82% MoM while falling by 8.98% YoY to $3.02bn as compared to the total exports of $2.66bn in the previous month.
Total imports inched up by 1.4% MoM to $5.08bn as compared to the imports worth $5bn recorded in July, while the imports showed a decline of 23.98% YoY when compared to the numbers of August of last year.
Meanwhile, on a cumulative basis, the current account deficit in the first two months of FY24 was recorded at $945m, showing a significant improvement of 54.95 YoY when compared to the deficit of $2.04bn in July-August FY23.
The trade deficit in goods was reduced by around 10.19% MoM and by 42.06% YoY to $1.87 billion in August 2023 as the export of goods increased by 14.25% MoM to $2.42bn, while showing a decrease of 11.41% YoY.
Similarly, the trade deficit in services was improved significantly by 31.02% MoM to $189m as compared to a deficit of 274m in July, while they showed a rise of 37.96% YoYin deficit when compared to the same month of last year, when it stood at $137m only.
Furthermore, the worker’s remittances inched up by 3.15% MoM to $2.09bn as compared to $2.03bn in the previous month; while on a yearly basis, the remittances went down by 23.72% YoY as it stood at $2.75bn in August 2023.
Related News
Name | Price/Vol | %Chg/NChg |
---|---|---|
KSE100 | 131,949.07 198.95M |
0.97% 1262.41 |
ALLSHR | 82,069.26 730.83M |
0.94% 764.01 |
KSE30 | 40,387.76 80.88M |
1.11% 442.31 |
KMI30 | 191,376.82 77.76M |
0.36% 678.77 |
KMIALLSHR | 55,193.97 350.11M |
0.22% 119.82 |
BKTi | 35,828.25 28.42M |
3.64% 1259.85 |
OGTi | 28,446.34 6.84M |
-1.02% -293.01 |
Symbol | Bid/Ask | High/Low |
---|
Name | Last | High/Low | Chg/%Chg |
---|---|---|---|
BITCOIN FUTURES | 108,125.00 | 110,525.00 107,865.00 |
-2290.00 -2.07% |
BRENT CRUDE | 68.51 | 68.89 67.75 |
-0.29 -0.42% |
RICHARDS BAY COAL MONTHLY | 97.50 | 0.00 0.00 |
0.75 0.78% |
ROTTERDAM COAL MONTHLY | 106.00 | 106.00 105.85 |
-2.20 -2.03% |
USD RBD PALM OLEIN | 998.50 | 998.50 998.50 |
0.00 0.00% |
CRUDE OIL - WTI | 66.50 | 67.18 66.04 |
-0.50 -0.75% |
SUGAR #11 WORLD | 16.37 | 16.40 15.44 |
0.79 5.07% |
Chart of the Day
Latest News
Top 5 things to watch in this week
Pakistan Stock Movers
Name | Last | Chg/%Chg |
---|
Name | Last | Chg/%Chg |
---|