For 4th Consecutive Month, Current Account Shows $729 Million Surplus In Nov 24: SBP
Mohammad Ali (@ChaudhryMAli88) Published December 17, 2024 | 08:02 PM
The Pakistan’s external Current Account Balance remained in positive zone for the fourth consecutive month in November 2024 with a monthly surplus of $729 million while CAB for the first five months of the fiscal year 2024-25 recorded as $ 944 million
KARACHI, (UrduPoint / Pakistan Point News - 17th Dec, 2024) The Pakistan’s external Current Account Balance remained in positive zone for the fourth consecutive month in November 2024 with a monthly surplus of $729 million while CAB for the first five months of the fiscal year 2024-25 recorded as $ 944 million.
The State Bank of Pakistan (SBP) reported, on Tuesday, that the current account balance for July to November 2024 has shown significant improvement with US$944 million in surplus as compared to the deficit of $1,831 million during the corresponding period of last year.
The external Current Account recorded a surplus of US$729 million in November 24, according to the latest SBP data, after showing a surplus of US$349 million in October, US$86 million in September and US$29 million in August 2024.
According to SBP figures, the merchandize trade deficit has declined on month-on-month as well as yearly basis during November 2024. The balance on trade in goods in November 2024 has recorded a deficit of $1,361 million against the deficit of $1,590 million of October 24 and $1,838 million in November 2023, the data shown.
The cumulative balance in trade of goods in five months of current fiscal year 2024-25 (M5FY25) has recorded a deficit of $9689 million as compared to $8,838 million deficit of M5FY24.
Likewise, the services’ trade deficit was recorded as $152 million during November 24 as compared to the deficit of $265 million during October 2024 and $159 million in November 2023, the data shown adding that, balance on trade of services in July-November FY24-25 was recorded as $1,148 million against the $1,260 million deficit during M5FY24.
The overall trade deficit in goods and services was recorded as $10,837 million during the first five months of the current fiscal year in comparison to the deficit of $10,098 million in M5FY24.
Meanwhile, the balance on primary income recorded a deficit of $3,722 million during July-November 2024-25 against a deficit of $3,228 million of the corresponding period of the last fiscal year, the SBP data stated and added that, Balance on Secondary Income during Jul-Nov 24-25 was recorded as $15,503 million against $11,650 million in M5FY24.
