Karachi: The State Bank of Pakistan (SBP) on Thursday stated that the country had successfully maintained its current account surplus for the fourth consecutive month since July, according to news sources.
According to the details revealed, the current account stats for October registered a surplus of USD 382 million against USD 59 million registered in September — highlighting a total increase of 547%. However, the cumulative surplus during the July to October in the going financial year stood at 1.16 billion – against the deficit of USD 1.419 billion during the corresponding period of last year.
Reportedly, the situation regarding the current account started shifting in FY 20, when current account deficit fell to USD 3 billion – almost a quarter of last year’s level. The improvement was recorded on a broad-based basis as the sectors of trade, services and secondary income accounts showed signs of improvement.