Current Account posts surplus of $792m in first quarter

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Islamabad

Pakistan’s current account balance posted a surplus for a third successive month in September as the surplus reached $73 million against a deficit of $278 million in same month, a year earlier.
As a result, the overall current account balance during first quarter (July-September) of fiscal year (2020-21), posted a surplus of $792 million against a deficit of $1.5 billion during same month of previous year, State Bank of Pakistan (SBP) reported on Wednesday.
Continued buoyancy in remittances (up 9% month on month and a broad-based rebound in exports (up 29%) drove the current account surplus in September. While imports also picked up in line with the on-going revival in domestic economic activity, the SBP said. –APP

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