Pakistan posts Current Account Deficit of $200mn in April: SBP

KARACHI  – Pakistan’s current account balance posted a deficit of USD 200 million in April 2021, depicting a decline of 61% when compared to April 2020.

State Bank of Pakistan, in a tweet, said that the cumulative surplus in the current account balance stood at USD 800 million in the first ten months (Jul-April) of the current fiscal year, a significant turnaround from the $4.7bn deficit during the same period last year.

The bank further said that with the economy rebounding strongly in FY21, imports are picking up but are offset by unprecedented growth in remittances and recovery in exports.

With the CAB contained and FX reserves at a 4 year high, the economic revival is on a sound and sustainable footing, the SBP said.