January Current Account Deficit clocks in at USD 229 Million as FY21 Surplus shrinks to USD 912 Million

February 22, 2021 (MLN): Pakistan’s current account showed  a deficit of USD 229 million in January 2021 compared to a deficit of 652 million in December 2020 and a deficit of USD 512 million in January 2020.

The Current account in July – Jan FY21 still showed a surplus of USD 912 million compared to a deficit of USD 2,544 million in the corresponding period from last year.

Commenting on the data, the SBP posted on twitter “Compared to Jan20, exports grew steadily while remittances continued their record expansion. Imports of wheat and sugar to address domestic shortages, and palm oil, were significantly higher. Machinery imports continued to grow at double-digits, reflecting economic recovery”.

Copyright Mettis Link News

Posted on: 2021-02-22T19:30:00+05:00