ISLAMABAD- The Current Account recorded a deficit of $200 million in themonth of April due to a high import bill in the outgoing month, accordingto data reported by the State Bank of Pakistan (SBP).

The current account deficit of April 2021 is 61 percent lower than it wasin April 2020. However, the current account had maintained a surplusposition that stood at $800 million during the first 10 months of thecurrent financial year 2020-21, a significant turnaround from the deficitof $4.7 billion during the same period last year.

With the economy rebounding strongly in FY21, imports are picking up butare being offset by unprecedented growth in remittances and recovery inexports. With the CAB contained and the foreign exchange reserves at afour-year high, the economic revival is on sound and sustainable footing.

A.A.H Soomro, Managing Director at Khadim Ali Shah Bukhari Securities, toldPropakistani,

Good numbers continue this month as well. The next few months are sorted.Don’t see SBP needs to change the stance yet

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The trade deficit of goods is increasing every month after being at $21.3billion during July-April as compared to $17.5 billion recorded in thecorresponding period last year.

On the other hand, the trade deficit of the services had reduced to $1.4billion during July-April from $3.02 billion of the last year’scorresponding period. Hence, the overall deficit stood at $22.7 billion,showing an increase of 10 percent in the deficit values.

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