Karachi: According to figures issued on Monday by the State Bank of Pakistan (SBP), Pakistan’s current account reported a third consecutive month’s surplus of $349 million in October 2024, as opposed to a loss of $287 million in the same month of the previous fiscal year.
Compared to a deficit of $1.528 billion during the same period of the previous fiscal year, Pakistan’s current account now has a $218 million surplus for the first four months of the current fiscal year (4MFY25).
This excess is attributed to greater remittance growth of 7% MoM and 24% YoY in account, according to Topline Securities.
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Compared to $2.719 billion in the same month last year, the nation’s overall exports of goods increased by 11% to $3.022 billion in October 2024.
According to SBP data, imports totaled $4.608 billion in October 2024, a little yearly increase of 5,000 percent.
The total amount of worker remittances was $3.052 billion, a 24% increase over the previous year.
In 4MFY25, the country exported $10.508 billion worth of commodities. Based on SBP data, imports totaled $18.832 billion over the time frame.
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In comparison to SPLY, the country’s worker remittances increased by over 35 percent to $11.850 billion in 4MFY25.
