$73 m surplus, Pakistan Current account boom in Sept: PM Imran


$73 m surplus! On Wednesday, Prime Minister Imran Khan said Pakistan ‘s growth is going the right way, as the current account  balance of payments of the country registered a surplus of $73 million.

During Sept, the PM disclosed, the current account-the gap between government foreign revenue and spending-was in excess of $73 mn. 

$73 m surplus !

This took the excess to $792 mn for the 1st [quarter] compared to a shortfall of $1,492 mn over the same period last [year], with Pakistan’s premier tweeting it as fantastic news. 

He announced that the acceleration was attributed to a 29 percent increase in exports and a 9 percent increase in foreign funds over the previous  month. 

PM announced in August that the current account balance jumped up to a surplus of $424 mn after the current account balance posted a deficit of $613 mn in July 2019 and a deficit of $100 mn in July 2020.

Read More: Pakistani students win awards in China

The Prime Minister added that the strong stabilization was the result of an ongoing export rebound, which grew by 20% relative to June 2020, and record remittances. 

It was announced in June that Pakistan’s current account balance, after a break of seven months, again transformed into a surplus of $13 million in May 2020, but at the cost of economic growth. 

The surplus was achieved largely after Pakistan’s export earnings dropped to a $1.27 billion 13 year low and import payments dropped to a $2.8 billion 10-year low in May, “BMA Capital Executive Director Saad Hashmi said while speaking to The Express Tribune.” 

In reaction to the coronavirus pandemic, the downturn in imports and exports obviously suggested a substantial decrease in economic activity,  he added. 

Compared to a deficit of $530 million in the previous month of April and $1 billion in May 2019, Pakistan achieved a current account surplus of $13 million in May, the State Bank of Pakistan (SBP) announced.

In addition, the rise in the receipt of workers’ remittances, the reduction in the trade deficit in services and the growth in other current flows (remittances obtained from currency dealers) helped turn the balance of the current account into a deficit surplus.


View Comments

  • I have been exploring for a little bit for any high-quality articles or
    blog posts on this kind of space . Exploring in Yahoo I finally stumbled upon this site.
    Reading this info So i am glad to convey that I've a very good uncanny feeling I found out just what
    I needed. I so much undoubtedly will make certain to do not forget
    this site and give it a look on a constant basis.

  • With havin so much content and articles do you ever run into any issues of plagorism or copyright violation? My site has a lot of unique
    content I've either created myself or outsourced but
    it seems a lot of it is popping it up all over the internet without my agreement.
    Do you know any techniques to help reduce content from being stolen? I'd truly appreciate

  • Hi, after reading this awesome piece of writing i am as well delighted to
    share my knowledge here with colleagues.

Recent Posts

Kabul drone strike killed 10 civilians: US admits

Drone strike killed civilians The US has confirmed that a drone strike in Kabul killed… Read More

1 week ago

How Powerful is Pakistan? | Pakistan Economy 2021 | Pakistan military power

Pakistan is the 5th most populous country, has the second-largest Muslim population, and is among… Read More

2 weeks ago

Civilians killed in riots by Taliban in Panjshir 2021

Civilians Killed in Panjshir 2021 Civilians killed in riots by Taliban in Panjshir 2021! At… Read More

2 weeks ago

Taliban’s brutal crackdown on protest condemned by UN 2021

Taliban's brutal crackdown Since the Taliban announced their government a few days back many people… Read More

2 weeks ago

Journalists admit of beating by Taliban 2021

Taliban angry on media Coverage When covering protests in Afghanistan, journalists admit of beating by… Read More

2 weeks ago

Women protest against the male-dominant official Taliban government 2021

Women Protest in Kabul Hundreds of women protested in Kabul and Badakhshan, Afghanistan's north-eastern region,… Read More

2 weeks ago

This website uses cookies.