Pakistan recorded a current account deficit of $324 million in April 2026, according to figures released by the State Bank of Pakistan on Monday.
The latest reading comes after a surplus of $1.13 billion in March 2026, while the current account had shown a deficit of $12 million in April last year.
The deterioration was mainly driven by a sharp rise in imports, while export growth remained modest during the month.
Current Account Balance recorded a deficit of
$324 million in Apr 2026 compared to a surplus
of $1,134 million in Mar 2026.https://t.co/q3LNv3HgLshttps://t.co/fMcRUupmT2#SBPBOP pic.twitter.com/K8f0Cn3NON— SBP (@StateBank_Pak) May 18, 2026
Data showed that Pakistan’s exports of goods and services stood at $3.47 billion in April 2026, marking an increase of more than 3% compared to $3.36 billion in the corresponding month of 2025.
On the other hand, imports surged to $6.86 billion, up over 11% from $6.16 billion recorded in April last year, according to the central bank.
Workers’ remittances continued to provide support to the external account, reaching $3.54 billion in April 2026 compared to $3.18 billion a year earlier, reflecting a growth of 11%.
During the first 10 months of fiscal year 2025-26, Pakistan posted a cumulative current account deficit of $252 million, compared to a surplus of $1.66 billion during the same period of the previous fiscal year.
Meanwhile, the country’s foreign exchange reserves, excluding CRR and SCRR, climbed to $15.98 billion, indicating stronger external buffers despite continued pressure on the current account.
The data also showed Pakistan’s Real Effective Exchange Rate (REER) rising to a seven-year high of 105.80 in April 2026, compared to 104.29 in March. The figure also exceeded the 10-year average of 102.68.
A REER reading above 100 generally indicates that exports are becoming less competitive while imports become relatively cheaper. Conversely, a reading below 100 suggests improved export competitiveness.
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