Pakistan’s current account recorded a surplus of $582 million in December 2024, marking a 109% increase from $279 million in the same month of the previous year, according to data released by the State Bank of Pakistan (SBP) on Friday.
This is the fifth consecutive month of a current account surplus, a development attributed to higher remittances and an improved trade balance.
According to AKD Securities, the primary deficit has declined by 12% MoM to $743 million in December 2024 despite the usual trend of increasing in the month of December for the last 4-5 years.
The SBP also revised the November surplus figure from $729 million to $684 million in its latest data.
For the first half of the current fiscal year (1HFY25), Pakistan’s current account surplus reached $1.21 billion, a significant turnaround from the $1.397 billion deficit recorded during the same period last year.
In December 2024, Pakistan’s total export of goods and services rose nearly 9% to $3.838 billion, compared to $3.53 billion in December 2023.
Imports for the month increased by over 15% year-on-year, reaching $5.781 billion.
Workers’ remittances contributed significantly, amounting to $3.079 billion—an increase of over 29% compared to the same month last year.
During the first half of FY25, Pakistan’s total exports of goods and services reached $20.28 billion, while imports stood at $33.38 billion.
Worker remittances totaled $17.85 billion, reflecting a 33% increase from $13.44 billion in the same period last year.
