Pakistan has reported a Current Account Surplus of US$582mn in Dec 2024 compared to a surplus of US$684mn recorded in Nov 2024. This takes 1HFY25 surplus to US$1.21bn vs. a deficit of US$1.397bn.

The current account surplus in 5MFY25 was US$944mn, and in 1HFY25, it reached US$1.21bn, increasing by US$266mn compared to the reported surplus figure of US$582mn in December 2024. This suggests that data for previous months are adjusted to the extent of US$316mn. The central bank has revised current account numbers for July, August, September, and November 2024. A large part of the revision is made to address the service deficit.

The December 2024 posted surplus was higher than expected, as the trade deficit reported by SBP was 29% lower than PBS’s, compared to the historical average of 10%.

§ Primary deficit has fallen by 12% MoM to US$743mn in Dec 2024 despite the usual trend of increasing in Dec for the last 4-5 years.

§  Secondary balance has clocked in at US$3.3bn, up 6% MoM due to increased remittances by 6% MoM to US$3.08bn.

Courtesy- Topline Pakistan Research