As per the latest data compiled by SBP, in Jul’22 Current Account recorded a deficit of USD1.2bn as compared to USD851mn in the SPLY while on a sequential basis deficit shrank by 157% MoM as compared to USD2.2bn in Jun’22.

The recent monthly decline in deficit can primarily be attributed to shrinking the import bill as the international commodity prices took a dip, similarly, the ban on luxury items along with the excess import of POL products in Jun’22 also reduced the import bill during Jul’22.

Courtesy – ‘Spectrum Research’