Pakistan posted a current account deficit of USD 681mn in FY24 compared to a deficit of USD 3.3bn in FY23. This marks the lowest deficit in last 13 years. The decline in FY24 is driven by reduction in trade deficit and increase in remittances.

Total exports in FY24 stood at USD 38.9bn, marking a substantial 10% YoY growth. On the other hand, total imports amounted to USD 63.3bn, up by 3% YoY.

In Jun’24, Pakistan posted a current account deficit of USD 329mn compared to a deficit of USD 248mn during May’24. Total exports in Jun’24 recorded at USD 3.1bn, marking a 17% decrease from USD 3.7bn in May’24. Additionally, compared to Jun’23, there was a 14% increase in exports.

Moreover, total imports for Jun’24 reached USD 5.7bn, reflecting a 4% decline from the May’24 figure of USD 5.9bn. When compared to Jun’23, imports showed a 45% increase.

Courtesy – AHL Research