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Pakistan Posts Current Account Deficit of USD 50 million in February

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March 21, 2021 (MLN): Pakistan’s Current Account for the month of February 2021 showed a deficit of USD 50 million compared to a deficit of USD 210 million from January 2021 and deficit of USD 197 million from February 2020.

However, the current account was still in surplus in FY21 by USD 881 million compared to a deficit of USD 2.741 billion from the corresponding period of last year.

According to the State Bank of Pakistan (SBP) “Surplus in current account is helped by a continuous strong growth in workers’ remittances and a sustained recovery in exports since Nov20 in year-on-year terms, which more than offset increase in imports due to domestic food shortages and recovering economic activity”.

 

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Posted on: 2021-03-21T23:20:00+05:00

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