•        In Dec’23, the Current account demonstrated a surplus of USD 397mn, a notable shift from the USD 365mn deficit recorded in Dec’22.

•        On MoM basis, overall imports experienced a 6.1% decline in Dec’23, while total exports showed a significant 5% MoM increase. Additionally, remittances rose by 5.3% MoM.

•        The surplus was primarily driven by a 14% YoY uptick in overall exports and a 13% YoY surge in remittances, while imports saw a marginal 0.1% YoY decline.

•        In the 1HFY24, the Current Account Deficit (CAD) decreased by 77% YoY to USD 831mn, a substantial improvement from the USD 3.6bn deficit recorded in the same period last year.

Courtesy – AHL Research