The current account deficit of the country has ballooned by 14 percent in July 2018.
As per the details garnered, the current account deficit expanded to $2.2 billion in July 2018 as compared with the deficit of $1.93 billion in the corresponding period of the last fiscal year.
During 2017-18, the current account deficit amounts to $18 billion.
As a percentage of GDP, current account deficit stands at a negative 8.6% of the GDP, while during the same month last year, current account deficit accounted for a negative 7.1% of the GDP.
According to provisional data released by the State Bank, exports of goods (FOB) during July rose by 10.3% over the year as the country exported goods worth $2 billion in July, while the growth in imports surpassed that of exports, having grown at a pace of 19.8% during that period.
Compared to $2 billion in exports, the value of imports stood at $5.566 billion, resulting in a trade deficit of $3.557 billion with respect to the trade of goods exported and imported.—INP