{"id":59510,"date":"2024-12-18T10:49:50","date_gmt":"2024-12-18T05:49:50","guid":{"rendered":"https:\/\/dailyausaf.com\/en\/?p=59510"},"modified":"2024-12-18T10:49:50","modified_gmt":"2024-12-18T05:49:50","slug":"pakistan-attains-highest-current-account-surplus-in-10-years","status":"publish","type":"post","link":"https:\/\/dailyausaf.com\/en\/business\/pakistan-attains-highest-current-account-surplus-in-10-years\/","title":{"rendered":"Pakistan attains highest current account surplus in 10 years"},"content":{"rendered":"

KARACHI: Pakistan posted its fourth consecutive current account surplus<\/a> of $729 million in November, the highest since 2015, State Bank of Pakistan (SBP) revealed on Tuesday.<\/p>\n

The latest data showed that the surplus for the five five months of the current fiscal year (July-Nov FY25) reached $944 million, compared to a deficit of $1.676 billion in the last fiscal year\u2019s equivalent period.<\/p>\n

\n

The November surplus appears to be a turning point for the current account, jumping by $729m compared to $215m in the first four months of FY25.<\/p>\n<\/div>\n

The month-on-month rise was attributed to a reduction in the trade deficit, which decreased by 14% month-on-month to $1.361 billion, while the services deficit fell by 43% to $152 million.<\/p>\n

Additionally, the primary deficit dropped by 7% on a monthly basis to $843 million in November. Goods imports decreased by 10% to $4.136 billion, while services imports fell by 13% to $828 million.<\/p>\n

\"\"
The graph shows current account balance in billion USD \u2014 SBP website<\/figcaption><\/figure>\n

Prime Minister Shehbaz Sharif expressed satisfaction over achieving a record current account surplus in November.<\/p>\n

\u201cFor the first time in 10 years, Pakistan\u2019s current account surplus reaching US$729 million in November 2024 is extremely encouraging for the national economy,\u201d the prime minister said in a press statement issued by the PM’s Office.<\/p>\n

The premeir highlighted that cut in the policy rate by the State Bank of Pakistan (SBP), gradual decline in inflation rate and increase in the current account surplus were clear evidence of the government\u2019s positive economic policies.<\/p>\n

\u201cPakistan\u2019s position in the international economic market will strengthen with record increase in the current account surplus,\u201d the prime minister added.<\/p>\n

He noted that the increase in current account surplus would also increase the local and foreign investor\u2019s confidence in Pakistan\u2019s economy.<\/p>\n

 <\/p>\n

\u2014 Additional information from Associated Press of Pakistan (APP)<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

KARACHI: Pakistan posted its fourth consecutive current account surplus of $729 million in November, the highest since 2015, State Bank of Pakistan (SBP) revealed on Tuesday. The latest data showed that the surplus for the five five months of the current fiscal year (July-Nov FY25) reached $944 million, compared to a deficit of $1.676 billion […]<\/p>\n","protected":false},"author":23,"featured_media":59513,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4,13446],"tags":[599,24083],"class_list":["post-59510","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","category-featured","tag-state-bank-of-pakistan","tag-current-account-surplus"],"_links":{"self":[{"href":"https:\/\/dailyausaf.com\/en\/wp-json\/wp\/v2\/posts\/59510","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dailyausaf.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dailyausaf.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dailyausaf.com\/en\/wp-json\/wp\/v2\/users\/23"}],"replies":[{"embeddable":true,"href":"https:\/\/dailyausaf.com\/en\/wp-json\/wp\/v2\/comments?post=59510"}],"version-history":[{"count":1,"href":"https:\/\/dailyausaf.com\/en\/wp-json\/wp\/v2\/posts\/59510\/revisions"}],"predecessor-version":[{"id":59514,"href":"https:\/\/dailyausaf.com\/en\/wp-json\/wp\/v2\/posts\/59510\/revisions\/59514"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dailyausaf.com\/en\/wp-json\/wp\/v2\/media\/59513"}],"wp:attachment":[{"href":"https:\/\/dailyausaf.com\/en\/wp-json\/wp\/v2\/media?parent=59510"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dailyausaf.com\/en\/wp-json\/wp\/v2\/categories?post=59510"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dailyausaf.com\/en\/wp-json\/wp\/v2\/tags?post=59510"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}