{"id":95870,"date":"2023-12-19T12:36:20","date_gmt":"2023-12-19T07:36:20","guid":{"rendered":"https:\/\/www.zameen.com\/news\/?p=95870"},"modified":"2023-12-19T12:36:21","modified_gmt":"2023-12-19T07:36:21","slug":"sbp-announces-account-surplus-latter-half","status":"publish","type":"post","link":"https:\/\/www.zameen.com\/news\/sbp-announces-account-surplus-latter-half.html","title":{"rendered":"Current account posts surplus, defying predicted trends for FY24"},"content":{"rendered":"\n<p>Karachi: The State Bank of Pakistan (SBP), signalling a positive transformation, has recently revealed that Pakistan\u2019s current account displayed a surplus of USD 9 million in November 2023, according to a news source on December 19.<\/p>\n\n\n\n<p><strong>Read: <\/strong><a href=\"https:\/\/www.zameen.com\/news\/sbp-holds-interest-rate-at-22.html\" target=\"_blank\" rel=\"noreferrer noopener\">SBP\u2019s key interest rate remains same amid economic challenges<\/a><\/p>\n\n\n\n<p>As reported by the SBP on Monday, this surplus has been observed after experiencing a deficit in the initial four months of the fiscal year (FY) 2023-24. The cumulative current account deficit (CAD) for the first five months of FY24 witnessed a substantial decline of 64%, amounting to USD 1.16 billion. This is in stark contrast to the USD 3.24 billion recorded during the corresponding period of the previous fiscal year.<\/p>\n\n\n\n<p>Akseer Research Director Mohammad Awais Ashraf highlighted the positive role of increased technology exports by nearly 9%, reaching USD 259 million in November. Other business services also experienced growth of almost 10% to USD 137 million. This, coupled with a 20% month-on-month drop in the trade-in-service deficit, contributed to the overall surplus.<\/p>\n\n\n\n<p><strong>Read: <\/strong><a href=\"https:\/\/www.zameen.com\/news\/sbp-notifies-citizens-accounts-safety.html\" target=\"_blank\" rel=\"noreferrer noopener\">SBP shares details on no. of safe bank accounts, protected deposit limit<\/a><\/p>\n\n\n\n<p>Experts attribute the current account surplus to several factors, including advancements in technology exports, the export of government services, reduced interest payments, and lower profit repatriation by foreign companies in November 2023, compared to October 2023.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Karachi: The State Bank of Pakistan (SBP), signalling a positive transformation, has recently revealed that Pakistan\u2019s current account displayed a surplus of USD 9 million in November 2023, according to a news source on December 19. Read: SBP\u2019s key interest rate remains same amid economic challenges As reported by the SBP on Monday, this surplus has been observed after experiencing a deficit in the initial four months of the fiscal year (FY) 2023-24. The cumulative current account deficit (CAD) for the first five months of FY24 witnessed a substantial decline of 64%, amounting to USD 1.16 billion. This is in stark contrast to the USD 3.24 billion recorded during the corresponding period of the previous fiscal year. Akseer Research Director Mohammad Awais Ashraf highlighted the positive role of increased technology exports by nearly 9%, reaching USD 259 million in November. Other business services also experienced growth of almost 10% to USD 137 million. This, coupled with a 20% month-on-month drop in the trade-in-service deficit, contributed to the overall surplus. Read: SBP shares details on no. of safe bank accounts, protected deposit limit Experts attribute the current account surplus to several factors, including advancements in technology exports, the export of government&hellip;<\/p>\n","protected":false},"author":88,"featured_media":76277,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[15017],"tags":[32769,55057,21853],"persona":[],"class_list":{"0":"post-95870","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-notices-announcements","8":"tag-current-account-surplus-pakistan","9":"tag-sbp-news-and-updates","10":"tag-state-bank-of-pakistan-sbp","11":"cat-15017-id"},"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.2 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>SBP Announces Account Surplus in the Latter Half - Zameen News<\/title>\n<meta name=\"description\" content=\"Experience a positive economic shift in Karachi as the SBP announces a USD 9 million surplus in the country&#039;s current account.\" \/>\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\/sbp-announces-account-surplus-latter-half.html\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"SBP Announces Account Surplus in the Latter Half - Zameen News\" \/>\n<meta property=\"og:description\" content=\"Experience a positive economic shift in Karachi as the SBP announces a USD 9 million surplus in the country&#039;s current account.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.zameen.com\/news\/sbp-announces-account-surplus-latter-half.html\" \/>\n<meta property=\"og:site_name\" content=\"Pakistan Real Estate News &amp; Pakistan Property News &amp; Latest Updates - Zameen News\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/ZameenPK\" \/>\n<meta property=\"article:published_time\" content=\"2023-12-19T07:36:20+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-12-19T07:36:21+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/news-cdn.zameen.com\/wp-content\/uploads\/2021\/05\/SBP.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1170\" \/>\n\t<meta property=\"og:image:height\" content=\"400\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Muhammad Zohaib Nasir\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@ZameenProperty\" \/>\n<meta name=\"twitter:site\" content=\"@ZameenProperty\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Muhammad Zohaib Nasir\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"SBP Announces Account Surplus in the Latter Half - Zameen News","description":"Experience a positive economic shift in Karachi as the SBP announces a USD 9 million surplus in the country's current account.","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.zameen.com\/news\/sbp-announces-account-surplus-latter-half.html","og_locale":"en_US","og_type":"article","og_title":"SBP Announces Account Surplus in the Latter Half - Zameen News","og_description":"Experience a positive economic shift in Karachi as the SBP announces a USD 9 million surplus in the country's current account.","og_url":"https:\/\/www.zameen.com\/news\/sbp-announces-account-surplus-latter-half.html","og_site_name":"Pakistan Real Estate News &amp; 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