{"id":64643,"date":"2020-04-25T10:00:00","date_gmt":"2020-04-25T05:00:00","guid":{"rendered":"https:\/\/www.zameen.com\/news\/?p=64643"},"modified":"2020-04-24T16:05:27","modified_gmt":"2020-04-24T11:05:27","slug":"pakistans-account-deficit-hits-record-low","status":"publish","type":"post","link":"https:\/\/www.zameen.com\/news\/pakistans-account-deficit-hits-record-low.html","title":{"rendered":"Pakistan\u2019s account deficit hits record low"},"content":{"rendered":"\n<p>Islamabad: Pakistan\u2019s current account deficit has reduced by 73% to hit a record-breaking low by the end of the three quarters of the FY2019-20, a news source reported. According to details, the account deficit showed a significant reduction of USD 7.51 billion on a year-on-year basis as the three quarters of the current financial year ended.<\/p>\n\n\n\n<p><strong>Read<\/strong>: <a href=\"https:\/\/www.zameen.com\/news\/drop-in-imports-narrows-current-account-deficit-to-71.html\" target=\"_blank\" rel=\"noreferrer noopener\">Drop in imports narrows current account deficit to 71%<\/a><\/p>\n\n\n\n<p>The State Bank of Pakistan (SBP) reported that the current account deficit stood at USD 2.78 billion during the period of July to March for FY2019-20. The central bank added that the figure stood at USD 10.284 billion for the same period during the previous financial year.<\/p>\n\n\n\n<p>According to reports, the current account deficit was recorded at USD 6 million at the end of March \u2013 despite the decline in exports of Pakistan amid the COVID-19 pandemic. &nbsp;Even though imports also decreased during March, the remittance inflows were positive \u2013 reflecting strongly on the status of the current account deficit.<\/p>\n\n\n\n<p>On the other hand, the trade deficit of goods and services also dropped by 30% during the nine months of the FY2019-20. This figure decrease to USD 14.68 billion as compared to the USD 21.2 billion during the same period of last financial year. Meanwhile, the remittance inflows in the last nine months of the current financial year stood at USD 16.9 billion \u2013 showing an addition of USD 959 million.<\/p>\n\n\n\n<p><strong>Read<\/strong>: <a href=\"https:\/\/www.zameen.com\/news\/pakistans-textile-export-volume-surges-by-17.html\" target=\"_blank\" rel=\"noreferrer noopener\">Pakistan\u2019s textile export volume surges by 17%<\/a><\/p>\n\n\n\n<p>However, from April onwards, the current account deficit may experience the impact of a slowdown in export receipts and remittance inflows due to the pandemic situation. The incumbent government has taken measures to mitigate these shocks of the global economic crisis with the help of exporters and incentives for remittances.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Islamabad: Pakistan\u2019s current account deficit has reduced by 73% to hit a record-breaking low by the end of the three quarters of the FY2019-20, a news source reported. According to details, the account deficit showed a significant reduction of USD 7.51 billion on a year-on-year basis as the three quarters of the current financial year ended. Read: Drop in imports narrows current account deficit to 71% The State Bank of Pakistan (SBP) reported that the current account deficit stood at USD 2.78 billion during the period of July to March for FY2019-20. The central bank added that the figure stood at USD 10.284 billion for the same period during the previous financial year. According to reports, the current account deficit was recorded at USD 6 million at the end of March \u2013 despite the decline in exports of Pakistan amid the COVID-19 pandemic. &nbsp;Even though imports also decreased during March, the remittance inflows were positive \u2013 reflecting strongly on the status of the current account deficit. On the other hand, the trade deficit of goods and services also dropped by 30% during the nine months of the FY2019-20. This figure decrease to USD 14.68 billion as compared to the USD&hellip;<\/p>\n","protected":false},"author":68,"featured_media":64102,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[15153],"tags":[27219],"persona":[],"class_list":{"0":"post-64643","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-trade","8":"tag-details-on-pakistans-account-deficit-hits-record-low","9":"cat-15153-id"},"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.2 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Pakistan\u2019s account deficit hits record low - Zameen News<\/title>\n<meta name=\"description\" content=\"Pakistan\u2019s current account deficit has reduced by 73% to hit a record low by the end of the three quarters of the FY2019-20, a news source reported.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.zameen.com\/news\/pakistans-account-deficit-hits-record-low.html\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Pakistan\u2019s account deficit hits record low - Zameen News\" \/>\n<meta property=\"og:description\" content=\"Pakistan\u2019s current account deficit has reduced by 73% to hit a record low by the end of the three quarters of the FY2019-20, a news source reported.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.zameen.com\/news\/pakistans-account-deficit-hits-record-low.html\" \/>\n<meta property=\"og:site_name\" content=\"Pakistan Real Estate News &amp; 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