According to the State Bank of Pakistan (SBP), the current account surplus stood at $255 million in May 2023.
According to the SBP statement, the current account deficit for the 11 months of the current financial year was 2.9 billion dollars, while the current account deficit for the 11 months of the previous financial year was more than 15 billion dollars.
According to the central bank, May’s current account surplus is due to rising exports.
State Bank says that the current account deficit was reduced by reducing imports by 16 billion dollars in 11 months.
Imports in 11 months last year were 64 billion dollars, this year they were 48 billion dollars.
According to the State Bank, workers’ remittances decreased by 3.6 billion dollars to 24.84 billion dollars this year.
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