Current Account deficit rises by 42.57% in Fiscal Year 2018

MG News | July 19, 2018 at 06:04 PM GMT+05:00
According to data from the State Bank of Pakistan, Current account deficit for the fiscal year 2017-18 has widened to $18 billion, an increase of about 42.57% compared with the fiscal year 2016-17 when the current account deficit was reported at $12.62 billion.
Just as in the previous fiscal year, the highest deficit was recorded in the fourth quarter of the fiscal year at about $5.8 billion during that quarter, compared to $4.6 billion in the corresponding period of the previous fiscal.
As a percentage of GDP, current account deficit reach 5.7% in the fiscal year 2018 compared to 4.1% of the GDP in the previous fiscal year.
In the month of June 2018, current account deficit amounted to $1.84 billion, compared to $2 billion in the previous month (May 2018).
Balance on trade in goods for the fiscal year 2018 was reported at a deficit of $31.07 billion, compared to a deficit of $26.68 billion during the previous fiscal, an increase of about 16.5%.
Exports of goods surged by 12.58% after being recorded at $24.77 billion compared to $22 billion worth of exports in the previous fiscal year. Exports of services on the other hand witnessed a decline of about 6.3% compared to the previous fiscal after being recorded at $5.2 billion.
Growth in import of goods surpassed that of exports as imports of goods were recorded at $55.85 billion, an increase of 14.72% over the $48.68 billion worth of imports in the previous fiscal year. Import of services on the other hand, grew by only 4.87% after being recorded at $10.38 billion.
Balance on trade in goods and services grew by 16.85% compared to the previous fiscal year.
Related News
Name | Price/Vol | %Chg/NChg |
---|---|---|
KSE100 | 136,502.54 259.91M |
1.64% 2202.77 |
ALLSHR | 85,079.90 838.35M |
1.26% 1061.74 |
KSE30 | 41,552.62 97.27M |
1.81% 738.33 |
KMI30 | 193,330.76 84.69M |
0.39% 741.60 |
KMIALLSHR | 56,315.31 366.02M |
0.43% 243.06 |
BKTi | 38,498.08 37.91M |
4.13% 1526.33 |
OGTi | 28,138.38 5.66M |
-0.36% -101.89 |
Symbol | Bid/Ask | High/Low |
---|
Name | Last | High/Low | Chg/%Chg |
---|---|---|---|
BITCOIN FUTURES | 119,775.00 | 120,695.00 119,450.00 |
-460.00 -0.38% |
BRENT CRUDE | 69.03 | 69.17 68.98 |
-0.18 -0.26% |
RICHARDS BAY COAL MONTHLY | 97.50 | 0.00 0.00 |
0.25 0.26% |
ROTTERDAM COAL MONTHLY | 106.50 | 106.60 106.50 |
-2.20 -2.02% |
USD RBD PALM OLEIN | 998.50 | 998.50 998.50 |
0.00 0.00% |
CRUDE OIL - WTI | 66.76 | 66.99 66.70 |
-0.22 -0.33% |
SUGAR #11 WORLD | 16.31 | 16.67 16.27 |
-0.26 -1.57% |
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 |
---|