Current account deficit dips by 72% in seven month: SBP
Islamabad: A remarkable dip of 72 percent has been witnessed in current account deficit during current fiscal year.
According to State Bank of Pakistan (SBP), Current account deficit has gone down up to 2.654 billion dollar with decrease of 6.825 billion dollar during July to January 2019-20.
Current account deficit had remained 9.479 billion dollar in the country during the corresponding period of previous fiscal year.
According to report, Deficit volume had remained 555 million dollar due to increase of 77.32 percent during January 2020 as compared to December 2019 and current account deficit had remained 313 million dollar during December 2019 while 35.84 percent current account deficit reduced during January 2020 as compared to January 2019.
According to report, Imports have reduced up to 26.086 billion dollar during current fiscal year while 32.489 billion dollar imports were made during the corresponding period in last fiscal year.
According to SBP, exports volume rose to 14.442 billion dollar as compared to 14.136 billion dollar volume with 2.16 percent increase in exports during current financial year.
72 Percent remarkable decline has been recorded in country current account deficit due to noticeable decrease in imports and increase in exports.