Pakistan Economy saw Current Account balance shifts to deficit in May’24

Pakistan posted a current account deficit of USD 270mn in May’24 compared to a surplus of USD 155mn in May’23 and USD 499mn surplus in Apr’24. This decline was mainly due to a higher primary income deficit and trade deficit.
In May’24, Pakistan’s total exports amounted to USD 3.7bn, a 13% increase from USD 3.3bn recorded in April ’24. Additionally, exports increased by 15% compared to May’23.
Moreover, total imports for May’24 reached USD 5.9bn, reflecting a 12.2% increase from the Apr’24 figure of USD 5.28bn. When compared to May’23, imports showed a 25% increase.
During 11MFY24, CAD stood at USD 464mn, down 88%. Moreover, total exports stood at USD 35.7bn, marking a substantial 9% YoY growth. On the other hand, total imports amounted to USD 57.6bn, flat YoY.

Courtesy – AHL Research