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Current Account Deficit declines to $1.6bln in 5 months: SBP

by Web Desk
January 24, 2024
in Business
Current Account Deficit declines to $1.6bln in 5 months: SBP

ISLAMABAD: The Current Account Deficit (CAD) has significantly slid down to $1.16 billion during the first five months of the current fiscal year as compared to the deficit of $3.26 billion during the same period of last year, State Bank of Pakistan (SBP reported Monday.
“Current Account Deficit improved significantly to $1.16 billion in July-November FY24, from $3.26 billion in July-November FY23,” SBP posted on the social media website X (formerly Twitter).
On year-on-year basis, the CAD witnessed a surplus of $9 million in November 2022 compared to a deficit of $157 million in November 2023.
According to the latest SBP figures, the merchandize trade deficit during July-November (2023-24) was recorded at $8770 million as compared to the deficit of $13,427 million in July-November (2022-23).
Likewise, the services’ trade deficit was recorded at $1,124 million during FY2023-24 compared to the deficit of $317 million during the corresponding period of last year.
The overall trade deficit in goods and services was recorded at $9,894 million during the current fiscal year compared to the deficit of $13,744 million during last year.
Meanwhile, the balance on primary income stood at negative 2,957 million against $1,951 million last year, according to the SBP data.

Tags: Asif ZardariBilawal BhuttoElection Commission of PakistanELECTIONS 20224GazaISLAMABADIsraelKPKLAHORENawaz SharifPakistan Tehreek-e-InsafpalestinePMLNPPPPTIPUBLIC PURVIEWRawalpindi
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LSMI output declines by 0.44% in first four months of FY 2022-23

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    25 years of Bebo: Bollywood’s ultimate performer

    Iqra Aziz

    Iqra Aziz steals spotlight in no-makeup look

    Deepika Padukone and Ranveer Singh welcome baby girl

    Deepika Padukone and Ranveer Singh welcome baby girl

    'Kyunki Saas Bhi Kabhi Bahu Thi' actor Vikas Sethi dies

    ‘Kyunki Saas Bhi Kabhi Bahu Thi’ actor Vikas Sethi dies

    Anees Bazmee confirms Bhool Bhulaiyaa 3 release date

    Anees Bazmee confirms Bhool Bhulaiyaa 3 release date

    Popular Indian tv actress Shweta Tiwari has once again mesmerized her lovers along with her present day photoshoot, wherein she looks breathtakingly lovely in a saree.

    Shweta Tiwari Stuns Fans with Gorgeous Saree Look

    Hania Amir

    Hania Amir demands Legal Action Over Fake AI video

    Sumbal Iqbal

    Sumbal Iqbal’s Beach Pictures Stuns Everyone!

  • Tech
    TECNO

    TECNO Launches PHANTOM V Fold2 & Flip2 5G – Innovation Redefined

    Pakistan Ranks Among Top Countries in Global Cybersecurity

    Pakistan Ranks Among Top Countries in Global Cybersecurity Index 2024

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    WhatsApp soon allow to message any APP

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    AI getting smarter by rereading questions

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