ISLAMABAD – Pakistan current account deficit has decreased by a surprising2.5% in the first quarter of the financial year 2018-19.
The decrease came due to the increasing income of foreign receiptsvia inflow from exports and remittances.
Thee current account deficit decreased to $3.66 billion during the periodof July to September as compared with $3.76 billion reported in thecorresponding period of the previous financial year, showing a modestgrowth of 2.5 percent or $96 million.
Current Account has been ballooning over the past few years due toconsistent growth in imports of commodities and services whereas theavenues of foreign exchange remained limited.
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The depreciation of the Rupee against Dollar is one of the main reasons forthe decrease of current account deficit in the period under review. Thedepreciation enhanced the values of exports to $5.88 billion this year from$5.67 billion of the previous year during the first quarter of FY19.
