News

Current account records surplus of $13m in May

Current account records surplus of $13m in May
The country’s current account balance recorded a surplus of $13 million in May 2020, as compared to the deficit of $1.004 billion recorded in May 2019, according to data released by the State Bank of Pakistan.

This is the first time a surplus has been recorded since October 2019, when the current account surplus stood at $73 million.

Most of this was driven by the decline in total imports, which fell 41pc year-on-year to $2.274 billion.

However, total exports of goods also fell 40pc year-on-year to $1.129 billion in May 2020, while there was a 19pc fall in the inflow of workers’ remittances, which were recorded at $429 million.World Bank sees Pakistan’s economic growth.
The current account deficit stood at $3.288 billion during the first eleven months of fiscal year 2020, a decline of 74pc when compared to the $12.453 billion deficit recorded in the corresponding period last year.Covid19 : Jazz has pledged to donate Rs1.2 billion

During the first eleven months of the fiscal year 2020, the total deficit in goods and services balance stood at $20.6 billion, a decline of 31pc from the deficit of $30 billion recorded in the corresponding period of last year.

Tags

Leave a Reply

Your email address will not be published. Required fields are marked *

Close