Current Account deficit rises by 42.57% in Fiscal Year 2018

News Image

MG News | July 19, 2018 at 06:04 PM GMT+05:00

0:00

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
July 14, 2025 at 05:26 PM GMT+05:00

Gold price in Pakistan rises Rs1,600 per tola


July 14, 2025 at 04:59 PM GMT+05:00

Tax reforms focus on public ease, transparency


July 14, 2025 at 04:23 PM GMT+05:00

PSX Closing Bell: Another One Bites the High


July 14, 2025 at 04:06 PM GMT+05:00

PKR falls 25 paisa per USD



Top 5 things to watch in this week

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