Karachi: Pakistan recorded its highest-ever monthly current account surplus in March 2025, posting a surplus of $1.2 billion, according to data released by the State Bank of Pakistan (SBP) on Thursday. The figure marks a sharp reversal from a revised deficit of $97 million in February and reflects a year-on-year increase of 230% compared to the $363 million surplus in March 2024.
Brokerage firms Topline Securities and Arif Habib Limited confirmed that this is the largest monthly current account surplus in the country’s history.
The improvement was largely driven by a surge in workers’ remittances, which reached $4.05 billion in March—an increase of over 71% year-on-year. Higher inflows from overseas Pakistanis, combined with controlled oil imports and gradually rising exports, played a key role in strengthening the external account.
Total exports of goods and services stood at $3.51 billion, reflecting an 8.7% increase from the same month last year, while imports also rose by 8%, reaching $5.92 billion.
With this strong performance, the cumulative current account surplus for the first nine months of FY2024–25 has reached $1.86 billion, a sharp turnaround from a $1.65 billion deficit during the same period last year.
“Lower oil prices and record remittance inflows are supporting a sustainable surplus. If these trends continue, we expect the current account to remain in surplus through June FY25, possibly extending into FY26,” said Khurram Schehzad, Advisor to the Finance Minister. Analysts note that muted economic growth, high inflation, tight monetary policy, and import restrictions have all contributed to narrowing the deficit, while improving external sector performance is bolstering investor sentiment.
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