Current account deficit ballooned by 14pc in July


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

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