Current account posts $773m surplus in 10MFY21

The country’s current account remained in surplus with $773 million during the first 10 months of the current fiscal year 2020-21 (10MFY21).

According to latest data issued by the State Bank of Pakistan (SBP) on Tuesday, the current account deficit (CAD) contracted by almost 61 per cent to $200m in April against $510m in the same month last year.

The country succeeded in keeping its current account surplus despite increasing trade deficit which widened by 21.6pc to $23.83bn during July-April FY21 as compared to the trade deficit of $19.59bn in the same period in FY20.,

During 10MFY21, exports increased 13.5pc to $20.9bn compared to $18.4bn in the same period last year. However, imports during the July-April period increased by 17.7pc to $44.7bn, showing a trade deficit of $23.8bn.

After December 2020, the CAD started declining. In December it was the highest at $652m then $210m in January, $50m in February, $33m in March and $200m in April.

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