Current Account Deficit Hits $269 Million in January 2024

Pakistan’s Current account balance posted a deficit of $269 million in January 2024, according to data released by the State Bank of Pakistan (SBP) on Monday. The current account balance posted a surplus of $404 million in the previous months i.e. December 2023 while the current account balance posted a deficit of $167 million in the same month of the previous fiscal year i.e. January 2023. During the seven months of the current fiscal year (7MFY24), the current account balance posted a deficit of $1.093 billion, a significant improvement on current account deficit of $3.796 billion posted during the same period of the previous fiscal year. During the current fiscal year, the current account balance has posted a surplus only once (December 2023). The current account deficit in January 2024 is also the highest since July 2023.