Pakistan Posts Current Account Surplus of $491 Million in April

Pakistan’s current account balance posted a surplus of $491 million in April 2024, according to data released by the State Bank of Pakistan (SBP) on Friday. The surplus in April 2024 was 266 percent higher compared to the surplus of $134 million reported in April 2023. It was also 13 percent higher compared to the revised surplus of $434 million reported in March 2024. During the ten months of the current fiscal year (10MFY24), the current account balance posted a deficit of $202 million, a significant improvement on the current account deficit of $3.92 billion posted during the same period of the previous fiscal year. Pakistan’s current account posed a deficit in the opening five months of the current fiscal year (FY24) i.e. July-Nov FY24. However, December saw the current account go into green. This was short lived as the country posted another deficit in January. However current account posed a surplus in both February and March, making April the third consecutive month where the country has posted a current account surplus.