In a positive development, Pakistan current account deficit recorded surplus
KARACHI: In a positive development, Pakistan current account deficit recorded surplus.
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 on Wednesday.
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.