Pakistan’s current account turns surplus: SBP
Karachi: Pakistan’s current account surplus due to effective economic measures of the government, this is the second month in which the current account deficit remained surplus.
According to the details, a statement issued by the State Bank of Pakistan said that Pakistan’s current account surplus,$1 crore and 30 lacs in May 2020, while in April 2020, the current account deficit was $53 crore.
The SBP said that the current account deficit in 2019 was $1 billion and 4 lacs, this is the second month in which the current account deficit was in surplus, in October 2019 the current account was in surplus of $7 crore.
In the first 11 months of the current financial year, the current account deficit decreased by 74% and the current account deficit decreased from $12.45 billion to $3.3 billion, while the trade deficit decreased by 29% to $17.94 billion during the 11 months.
In 11 months, imports fell 19% to $38.87 billion and exports fell 7% to $20.9 billion, while remittances rose 3% to $20.65 billion.
It may be recalled that in November 2019, Pakistan’s current account had a surplus four and a half years later and in October, the current account surplus was $9 crore 90 lacs.
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