Pakistan's current account posts another $491m surplus in April

MG News | May 17, 2024 at 03:25 PM GMT+05:00
May 17, 2024 (MLN): Pakistan has recorded a current account surplus of $491 million, the latest data issued by the State Bank of Pakistan (SBP) revealed today.
Last month, the country recorded a current account surplus of $434m, while in April, 2023 the current account surplus stood at $134m.
Meanwhile, on a cumulative basis, the current account deficit in 10MFY24 was recorded at $202m, showing an improvement of 94.8% YoY when compared to the deficit of $3.92bn in 10MFY23.
Total exports rose by 22.0% YoY to $3.28bn compared to $2.69bn in the same month of last year, while rose by 1.6% MoM as against the exports of $3.23bn in the previous month.
Total imports rose by 21.5% YoY and fell by 2.7% MoM to $5.28bn as compared to the imports worth $4.35bn recorded in April of last year and $5.42bn recorded in March.
Accordingly, the trade deficit in goods and services rose 20.6% YoY to $2bn. On a monthly basis, it narrowed 9.0%.
Breaking up the data, the trade deficit in goods was $1.81bn, up 21.9% YoY and down 11.3% MoM.
This was on the back of a 23.4% YoY rise in exports and a 22.8% YoY rise in imports.
Furthermore, the trade deficit in services was $187m, up 9.4% YoY compared to a deficit of $171m a year earlier, while it rose 22.2% MoM compared to a deficit of $153m a month earlier.
The data further details that the workers' remittances in April increased by 27.9% YoY to $2.81bn as against $2.2bn in April 2023; while on a monthly basis, the remittances went down by 4.8% MoM as compared to $2.95bn in the previous month.
Cumulatively in 10MFY24, workers' remittances were recorded at $23.85bn as compared to $23.04bn in 10MFY23, depicting a rise of 3.5% YoY.
Copyright Mettis Link News
Related News
Name | Price/Vol | %Chg/NChg |
---|---|---|
KSE100 | 138,597.36 256.32M | -0.05% -68.14 |
ALLSHR | 85,286.16 608.38M | -0.48% -413.35 |
KSE30 | 42,340.81 77.13M | -0.03% -12.33 |
KMI30 | 193,554.51 76.19M | -0.83% -1627.52 |
KMIALLSHR | 55,946.05 305.11M | -0.79% -443.10 |
BKTi | 38,197.97 16.53M | -0.59% -225.01 |
OGTi | 27,457.35 6.73M | -0.94% -260.91 |
Symbol | Bid/Ask | High/Low |
---|
Name | Last | High/Low | Chg/%Chg |
---|---|---|---|
BITCOIN FUTURES | 117,585.00 | 121,165.00 117,335.00 | -1705.00 -1.43% |
BRENT CRUDE | 69.34 | 70.77 69.14 | -0.18 -0.26% |
RICHARDS BAY COAL MONTHLY | 96.50 | 0.00 0.00 | 2.20 2.33% |
ROTTERDAM COAL MONTHLY | 104.50 | 104.50 104.50 | -0.30 -0.29% |
USD RBD PALM OLEIN | 998.50 | 998.50 998.50 | 0.00 0.00% |
CRUDE OIL - WTI | 66.14 | 67.54 65.93 | -0.09 -0.14% |
SUGAR #11 WORLD | 16.79 | 17.02 16.71 | 0.05 0.30% |
Chart of the Day
Latest News
Top 5 things to watch in this week
Pakistan Stock Movers
Name | Last | Chg/%Chg |
---|
Name | Last | Chg/%Chg |
---|