Current account deficit jumps to $2.6bn in January

News Image

MG News | February 24, 2022 at 07:42 PM GMT+05:00

0:00

February 24, 2022 (MLN): Pakistan's current account deficit (CAD) rose to $2.6 billion in January 2022 from $1.9bn in December 2021, largely due to imports in kind that are fully financed, the central bank said on Twitter today.

Excluding these, the deficit would have been around $1bn lower in January 2022, it added.

While the current account balance rang alarming bells as the deficit widened by 12x YoY from $219 million reported in January 2021.

The country recorded CAD of $11.58bn in the first seven months of the ongoing fiscal year as opposed to $1.03 bn surplus recorded in the same period last year, reflecting the robust increase in imports.

The trade deficit in goods inched up by around 8.5% MoM to $3.93bn in January 2022 as exports of goods dropped by nearly 15% MoM while imports saw a marginal decrease of 2% MoM. On year on year, the trade deficit in goods widened by 45% in the said month.

Meanwhile, the trade balance in services, while still negative, surged by 24% MoM to $406mn courtesy of a 24% fall in exports while imports edged lower by 8.3% during the period under review.

On year-on-year, the trade deficit in services went up by 3x YoY in January 2022.

Workers' remittances declined by 15% MoM to $2.14bn from $2.5bn in December 2021.

On a cumulative basis during July-Jan FY22, remittances by overseas Pakistani moved up by 9% YoY to $17.95bn from $16.46bn recorded in July-Jan FY21.

Copyright Mettis Link News

Related News

Name Price/Vol %Chg/NChg
KSE100 167,085.58
225.68M
0.48%
802.03
ALLSHR 101,220.72
685.91M
0.47%
477.65
KSE30 50,772.02
134.57M
0.57%
290.16
KMI30 239,923.35
145.03M
0.77%
1831.31
KMIALLSHR 66,042.80
345.76M
0.65%
425.34
BKTi 45,106.39
29.18M
0.06%
24.91
OGTi 33,583.05
26.44M
1.52%
502.39
Symbol Bid/Ask High/Low
Name Last High/Low Chg/%Chg
BITCOIN FUTURES 89,425.00 0.00
0.00
-175.00
-0.20%
BRENT CRUDE 63.86 64.09
63.06
0.60
0.95%
RICHARDS BAY COAL MONTHLY 91.00 0.00
0.00
0.10
0.11%
ROTTERDAM COAL MONTHLY 97.25 97.25
97.25
0.05
0.05%
USD RBD PALM OLEIN 1,016.00 1,016.00
1,016.00
0.00
0.00%
CRUDE OIL - WTI 60.14 0.00
0.00
0.06
0.10%
SUGAR #11 WORLD 14.82 15.02
14.73
-0.06
-0.40%

Chart of the Day


Latest News
December 07, 2025 at 11:19 AM GMT+05:00

FBR busts biggest illegal tobacco setup in Mardan


December 07, 2025 at 11:07 AM GMT+05:00

Weekly Market Roundup


December 07, 2025 at 09:40 AM GMT+05:00

FFC, PAEL enter the MZNPI fold in latest review


December 06, 2025 at 11:55 PM GMT+05:00

GCC–Pakistan FTA dominates Doha forum


December 06, 2025 at 11:17 PM GMT+05:00

Binance Boss lands in Islamabad for Crypto rule talks



Top 5 things to watch in this week

Pakistan Stock Movers
Name Last Chg/%Chg
Name Last Chg/%Chg