Pakistan’s current account deficit was recorded at $229 million in January 2021 compared to a deficit of $652 million in December 2020, the State Bank of Pakistan (SBP) revealed. In a series of tweets on Monday, the central bank said that current account during July–January FY21 still showed a surplus of $912 million compared to a deficit of $2,544 million in the corresponding period of the last year. The SBP mentioned that the country had witnessed a deficit of $512 million in January 2020. Imports of wheat and sugar to address domestic shortages, along with palm oil, were significantly higher. Machinery imports continued to grow at double-digits, reflecting economic recovery,” tweeted the central bank.

Source: Pakistan Today February 22, 2021 17:43 UTC