Current account surplus hits 13-month high

Pakistan’s current account surplus soared to a 13-month high at $491 million in April, driven by robust receipts of workers’ remittances from overseas Pakistanis, thereby narrowing the cumulative current account deficit (CAD) to a nominal $202 million in the first 10 months of the current fiscal year 2023-24.

According to State Bank of Pakistan’s (SBP) data, the country recorded a surplus in the current account for the third consecutive month in April, buoyed by record-high technology exports at $310 million and a four-year high inflow of foreign direct investment (FDI) at $359 million during the month. However, the current account surplus for the prior month of March 2024 was revised down from a provisional nine-year high of $691 million to $434 million.

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