Current account posts $75m surplus in Aug

News Image

MG News | September 18, 2024 at 02:49 PM GMT+05:00

September 18, 2024 (MLN): Pakistan has recorded a current account surplus of $75 million, the latest data issued by the State Bank of Pakistan (SBP) revealed today.

Last month, the country recorded a current account deficit of $246m, while in August, 2023 the current account deficit stood at $152m.

On a cumulative basis, the current account deficit in 2MFY25 was recorded at $171m, showing an improvement of 80.9% when compared to the deficit of $893m in 2MFY24.

During August, total exports rose by 0.9% to $3.11bn compared to $3.08bn in the same month of last year. While it rose 3.4% as against the exports of $3.01bn in the previous month.

Total imports rose 9.7% to $5.62bn as compared to the imports worth $5.12bn recorded in August of last year. Compared to the previous month, imports fell 0.5%.

Accordingly, the trade deficit in goods and services rose 23.1% from a year ago to $2.51bn. On a monthly basis, it narrowed 4.9%.

Cumulatively, the trade deficit in 2MFY25 was recorded at $5.14bn, a rise of 19.0% when compared to the deficit of $4.32bn in 2MFY24.

During the first two months of current fiscal year, exports rose 5.7% from a year ago to $6.12bn compared to $5.79bn in the same period last year.

Imports rose 11.4% to $11.26bn in 2MFY25 compared to $10.11bn in the same period last year.

The data further details that the workers' remittances in August increased by 40.5% to $2.94bn as against $2.1bn in August 2023; while on a monthly basis, the remittances went down by 1.7% as compared to $3bn in the previous month.

Cumulatively in 2MFY25, workers' remittances were recorded at $5.94bn as compared to $4.12bn in 2MFY24, depicting a rise of 44.0%.

(This story was corrected to show only August numbers in first paragraph instead of cumulative Jul-Aug deficit of $171m)

Copyright Mettis Link News

 

Related News

Name Price/Vol %Chg/NChg
KSE100 172,399.90
320.00M
1.59%
2696.30
ALLSHR 103,927.90
888.16M
1.29%
1323.37
KSE30 51,428.16
185.27M
1.65%
836.84
KMI30 246,743.08
136.63M
1.75%
4243.24
KMIALLSHR 67,499.94
461.75M
1.34%
890.73
BKTi 46,974.29
67.03M
1.67%
773.64
OGTi 35,183.53
7.71M
0.85%
295.91
Symbol Bid/Ask High/Low
Name Last High/Low Chg/%Chg
BITCOIN FUTURES 65,375.00 65,645.00
63,430.00
1715.00
2.69%
BRENT CRUDE 84.27 85.93
83.51
-3.06
-3.50%
RICHARDS BAY COAL MONTHLY 123.00 0.00
0.00
3.75
3.14%
ROTTERDAM COAL MONTHLY 131.00 0.00
0.00
0.00
0.00%
USD RBD PALM OLEIN 1,157.50 1,157.50
1,157.50
0.00
0.00%
CRUDE OIL - WTI 81.39 82.42
80.25
-3.49
-4.11%
SUGAR #11 WORLD 13.70 13.97
13.68
-0.09
-0.65%

Chart of the Day


Latest News
June 14, 2026 at 12:15 PM GMT+05:00

Key Pakistan Market Stats and Economic Indicators


June 14, 2026 at 12:04 PM GMT+05:00

ECC clears Rs9.2bn supplementary funding


June 14, 2026 at 11:51 AM GMT+05:00

UN encouraged by signs of US-Iran peace deal



Top 5 things to watch in this week

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