Pakistan Achieves 15-Year High Current Account Surplus in First Half of Fiscal Year 2025
Islamabad, The Gulf Observer: Pakistan recorded its highest current account (CA) surplus in 15 years during the first six months of the current fiscal year, driven by increased remittances and exports.
According to data released by the State Bank of Pakistan (SBP) on Friday, the country posted a current account surplus of $1.2 billion from July to December 2024, compared to a deficit of $1.397 billion in the same period last year. The current account surplus for December alone surged to $582 million, marking a 109% year-on-year increase, though it narrowed by 15% compared to the previous month.
The announcement came shortly after the UAE’s decision to roll over $2 billion in deposits with the SBP for another year, which were due to mature this month.
Prime Minister Shehbaz Sharif welcomed the surplus recorded for the third consecutive month in a press statement on Friday. He said the consistent surplus in October, November, and December reflected the success of the government’s economic policies. “We are actively working to further increase the surplus in the current fiscal year,” the prime minister added.
Additionally, while chairing a review meeting on transit cargo and tracking systems, PM Shehbaz Sharif directed the authorities to install international-standard cargo scanning systems in Karachi and other major trading hubs to curb smuggling.
