Current account records 1.21bn surplus in first half of FY25
Business
Balance on trade of services in July-December FY24-25 has recorded a deficit of 1.589bn dollars
KARACHI (APP) - The Pakistan’s external Current Account Balance recorded a surplus of $1.21 billion during the first half of fiscal year 2024-25 as compared to a deficit of $1.397 billion during the same period last year.
The current account for the month of December 2024 also recorded a surplus of $582 million as compared to $279 million surplus of the same month in previous year, the State Bank of Pakistan reported on Friday.
The positive trend in current account balance has continued for the fifth consecutive month in December 2024 taking the overall current account surplus for the period of July to December 2024-25 to $1.21 billion, the SBP data depicted.
The External Current Account recorded a surplus of $582 million in December, $ 684 million in November, $349 million in October, $86 million in September and $29 million in the month of August 2024.
According to SBP figures, the cumulative balance in trade of goods in the first half of current fiscal year 2024-25 (H1FY25) has recorded a deficit of $11.514 billion as compared to $10.229 billion deficit of H1FY24. The balance on trade in goods in December 2024 was recorded as $ 1.725 billion against the deficit of $ 1.355 billion in November 2024 and $1.391 billion in December 2024, the data shown.
Balance on trade of services in July-December FY24-25 has recorded a deficit of $1.589 billion against the $1.361 billion deficit during H1FY24, the data shown adding that the services’ trade deficit was recorded as $ 218 million in December 2024 as compared to $ 200 million during November 2024 and $ 101 million during December 2023.
The overall trade deficit in both goods and services was recorded as $13.103 billion during the first half of the current fiscal year in comparison to the deficit of $11.59 billion in H1FY24.
Meanwhile, the balance on primary income recorded a deficit of $4.507 billion during July-December 2024-25 against a deficit of $4.054 billion of the corresponding period of the last fiscal year, the SBP data stated and added that, Balance on Secondary Income during Jul-Dec 24-25 was recorded as $18.82 billion against $14.247 billion in H1FY24.
