KARACHI – Pakistan’s current account recorded a deficit of $356 million in September, marking a sharp deterioration from the previous month.
According to the State Bank of Pakistan (SBP), the current account deficit surged by 388% on a month-on-month basis, compared with just $73 million in August.
Economic analysts attributed the widening deficit to an increase in imports and a lack of significant improvement in exports, which put pressure on the country’s external account balance.
Data showed that Pakistan’s cumulative current account deficit stood at $874 million during the first quarter of the current fiscal year, covering July to September.
The current account deficit increased by 16% in the first quarter of the current fiscal year compared with the corresponding period of the previous fiscal year.
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