Pakistan’s current account recorded a surplus of $100 million in November 2025, following a $291 million deficit in October. This improvement contrasts with a surplus of $684 million in the same month last year, according to data released by the State Bank of Pakistan (SBP).
The surplus was largely driven by a significant decline in imports. Total imports for November 2025 stood at $5.68 billion, a drop of nearly 12% from the previous month.
In comparison, Pakistan’s total exports of goods and services amounted to $3.09 billion, down over 10% from October’s $3.44 billion.
Remittance inflows, which have been a key component of Pakistan’s current account, fell by 7% month-on-month, amounting to $3.19 billion in November, down from $3.42 billion in October.
For the first five months of the fiscal year (FY26), the current account posted a cumulative deficit of $812 million, a significant shift from a surplus of $503 million during the same period in FY25.
Despite this, Pakistan’s foreign exchange reserves, excluding the Cash Reserve Ratio (CRR) and Statutory Cash Reserve Ratio (SCRR), saw a notable rise, reaching $14.68 billion. This reflects a 21% year-on-year increase, signaling stronger external buffers amid persistent pressures on the current account.
