The Current Account for the month of Jul’21 posted a deficit of USD 773mn compared with a surplus of USD 583mn during Jul’20. The primary reason for deficit during Jul’21 was 41% YoY jump in imports and a decline of 2% in remittances.

Exports, however, showed improvement and clocked-in 17% YoY higher during Jul’21.

Total imports during Jul’21 were USD 6.1bn while exports stood at USD 2.7bn. On MoM basis, CAD came down 52% from last month’s deficit of USD 1.6bn. Total imports and exports, both depicted a negative growth MoM, down 14% and 11%, respectively. With this, the Balance of Trade recorded a deficit of USD 3,371mn during Jul’21 compared with a deficit of USD 1,987mn in Jul’20, an increase of 69% YoY. However, on MoM basis, Balance of Trade posted a decline of 17%.

Courtesy – AHL Research