Pakistan’s current account posted a surplus for the second consecutive month in April with analysts attributing the development to a reduction in imports due to administrative measures.
Data released by the State Bank of Pakistan Tuesday showed the country posted a surplus of $18 million this month compared to a current account deficit — the gap between a country’s expenditures and income — of $640 million last year.
In March, the current account was in surplus for the first time since November 2020 and clocked in at $654 million — the highest since February 2015.
Arif Habib Limited Head of Research Tahir Abbas said April’s current account surplus was lower than expected because of the SBP’s clearance of an import backlog.
Overall, in the 10 months of the current fiscal year, the current account deficit came in at $3.25 billion, declining 76% compared to $13.65 billion during the same period last year.