ISLAMABAD: Pakistan’s current account balance recorded a surplus of USD 121 million in January 2026, compared to a deficit of USD 265 million in December 2025, the State Bank of Pakistan (SBP) reported on Tuesday.
However, during the first seven months of fiscal year 2025-26, the current account posted a cumulative deficit of USD 1,074 million, in contrast to a surplus of USD 564 million in the same period of FY 2024-25.
According to provisional figures released by the SBP, the trade in goods deficit during July-January FY26 reached USD 18,402 million, up from USD 14,056 million in the corresponding period of FY25. The trade in goods for January 2026 stood at USD 2,591 million, compared with a deficit of USD 2,979 million in December 2025 and USD 2,473 million in January 2025.
The trade in services deficit during July-January FY26 was recorded at USD 2,071 million, slightly higher than USD 1,821 million in the same period last year. In January 2026, the services deficit was USD 302 million, down from USD 401 million in December 2025.
Overall, the combined trade deficit in goods and services reached USD 20,473 million in the first seven months of FY26, compared with USD 15,877 million during the same period last year. For January alone, the combined deficit stood at USD 2,893 million, down from USD 3,380 million in December 2025.
The balance on primary income posted a deficit of USD 5,333 million during July-January FY26, slightly lower than the USD 5,545 million deficit in the same period last year.
Meanwhile, workers’ remittances increased to USD 23,201 million in July-January FY26, compared to USD 20,850 million in the corresponding period of FY25. In January 2026, remittances amounted to USD 3,465 million, up from USD 3,003 million in January 2025.
The balance on secondary income also improved, recording a surplus of USD 24,732 million during July-January FY26, against a surplus of USD 21,986 million in the same period last fiscal year.
Officials said the January surplus in the current account reflects strong inflows from remittances and services, even as Pakistan continues to face a cumulative deficit in its overall external account for FY26.
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