Current Account Deficit declines to $464m in 11 months: SBP
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The Current Account Deficit (CAD) has decreased to $464 million during the eleven months of the current financial year as compared to the deficit of $3.765 billion during the same period of last year, State Bank of Pakistan (SBP) reported Friday.
On year-on-year basis, the CAD witnessed a surplus of $155 million in May 2023 compared to a deficit of $270 million in May 2024.
According to the latest SBP figures, the merchandize trade deficit during July-May (2023-24) was recorded at $19.724 billion as compared to the deficit of $23.753 billion in July-May (2022-23).
Likewise, the services’ trade deficit was recorded at $2,099 million during FY2023-24 compared to the deficit of $887 million during the corresponding period of last year.
The overall trade deficit in goods and services was recorded at $21.823 billion during the current fiscal year compared to the deficit of $24.640 billion during last year.
Meanwhile, the balance on primary income stood at negative $7.548 billion against $5.101 billion last year, according to the SBP data.