Current account posts $420m deficit in Jan

February 18, 2025 (MLN): Pakistan has recorded a current account deficit of $420 million, the latest data issued by the State Bank of Pakistan (SBP) revealed today.

Last month, the country recorded a current account surplus of $474m in January 2024, the current account deficit stood at $404m.

On a cumulative basis, the current account surplus in 7MFY25 was recorded at $682m, showing an increase of 137.9% when compared to the deficit of $1.8bn in 7MFY24.

During January, total exports rose by 8.0% to $3.63bn compared to $3.36bn in the same month of last year. While it fell 5.7% as against the exports of $3.85bn in the previous month.

Total imports rose 14.6% to $6.46bn as compared to the imports worth $5.64bn recorded in January of last year. Compared to the previous month, imports rose 9.0%.

Accordingly, the trade deficit in goods and services rose 24.3% from a year ago to $2.83bn. On a monthly basis, it widened 36.2%.

Cumulatively, the trade deficit in 7MFY25 was recorded at $16.07bn, a rise of 15.9% when compared to the deficit of $13.87bn in 7MFY24.

During the first 7 months of the current fiscal year, exports rose 7.3% to $23.92bn compared to $22.3bn in the same period last year.

Imports rose 10.6% to $39.99bn in 7MFY25 compared to $36.17bn in the same period last year.

The data further details that the workers' remittances in January increased by 25.2% to $3bn as against $2.4bn in January 2024; while monthly, the remittances went down by 2.5% as compared to $3.08bn in the previous month.

Cumulatively in 7MFY25, workers' remittances were recorded at $20.85bn as compared to $15.83bn in 7MFY24, depicting a rise of 31.7%.

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