Islamabad (Commerce Desk): According to the latest report issued by the State Bank of Pakistan, Pakistan’s current account recorded a surplus of $459 million in May.
The report states that in May, Pakistan imported goods worth $5.6 billion, while exports stood at $2.3 billion, resulting in a trade deficit of $3.3 billion.
The central bank further noted that during the first 11 months of the current fiscal year, the current account remained in a cumulative surplus of $255 million. However, during the same period, the trade deficit reached $24.3 billion.
According to the data, total imports during the 11-month period stood at $54 billion, while exports were recorded at $29.75 billion.
The report highlighted that record remittances of $4.2 billion in May played a key role in improving the current account position, while total worker remittances during the 11 months reached $38 billion.