Current account deficit shrinks 51pc to $572m in April - News Summed Up

Current account deficit shrinks 51pc to $572m in April


KARACHI: The country’s current account deficit in April 2020 stood at $572 million, a decline of 50.9pc when compared to the $1.165 billion deficit recorded in April 2019, according to data released by the State Bank of Pakistan on Thursday. The current account deficit stood at $3.343 billion during the first ten months of fiscal year 2020, a decline of 71pc when compared to the $11.284 billion deficit recorded in the corresponding period last year. Most of this was driven by the decline in total imports, which fell 26pc to $3.744 billion in April 2020, compared with $5.063 billion in April 2019. However, total exports of goods also fell 19.6pc to $1.807 billion in April 2020, compared with $2.570 billion in April 2019. Additionally, there was a 1.1pc rise in the inflow of workers’ remittances, which were recorded at $1.79 billion in April 2020.


Source: Pakistan Today May 21, 2020 18:45 UTC



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