Pakistan’s current account deficit was $270 million in May 2024. According to data released by the State Bank of Pakistan (SBP) on Friday.
Pakistan’s Current Account
The current account balance showed a $499 million surplus in the previous month, April 2024. Compared to a $155 million surplus in the same month of the previous fiscal year, May 2023.
Current FY (11MFY24)
During the first eleven months of the current fiscal year (11MFY24).
The current account balance posted a deficit of $464 million, a significant improvement from the previous fiscal year’s deficit of $3.7 billion.
Pakistan’s current account deficit occurred in the first five months of the current fiscal year (FY24), which ran from July to November.
However, the current account showed a positive balance in December. This was short-lived, as the country reported a $303 million deficit for January.
May’s deficit marks the first in four months. February, March, and April 2024 saw a positive current account balance.
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