Pakistan posted a current account surplus of USD 334mn for June ’23 compared to a deficit of USD 2.3bn during June ’22.

This marks the fourth consecutive monthly CA surplus.

The last time a surplus was reported in June was in 2011 (USD 293mn).

On a YoY basis, the primary reason behind the surplus was a 55% YoY decline in total imports and a 29% YoY decrease in exports. Moreover, remittances decreased by 22% YoY.

With this, during FY23, the country’s deficit decreased by 85% to USD 2.6bn compared with a deficit of USD 17.5bn during the same period last year. This is the lowest yearly CA deficit after FY13 (USD 2.5bn).

Courtesy – AHL Research