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*KARACHI: Pakistan’s current account deficit reached $1.03 billion in March2022, compared to $369 million recorded in the same period of the previousyear, the data released by the State Bank of Pakistan (SBP) showed onSaturday.*
The SBP said a “turnaround in the current account” has continued as adeficit of $1 billion is lower than the average during FY22.
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“Despite high global commodity prices, the turnaround in the currentaccount continues, with a deficit of $1bn in Mar, $500mn lower than theaverage during FY22,” tweeted the SBP.
In March, Pakistan’s import bill continued to surge as the import of goodsincreased to $6.244 billion, up from $5.143 billion in February.
On the other hand, Pakistan’s exports of goods during the month of Marchstood at $3.072 billion.
Meanwhile, cumulatively, during the nine-month period of the ongoing fiscalyear (July-March of FY22), the current account deficit stood at $13.17billion compared to a deficit of only $275 million during the same ninemonths of the previous fiscal year (FY21), showed SBP data. The import billfor the first 9 months of the current fiscal year stood at $53.79 billion,while exports at $23.69 billion.
