RECORDER REPORT

KARACHI: Pakistan recorded current account surplus of $491 million in April 2024, 13 percent higher as compared to a surplus of $434 million in March 2024.

The current account surplus in April 2024 was 266 percent higher than as compared to the surplus of $134 million recorded on April 2023.

According to data released by the State Bank of Pakistan (SBP) on Friday, the country’s current account deficit declined to $202 million in the first 10 months of FY24 as compared to $3,920 million in the same period in FY23. The country’s goods exports increased to $2.634 billion in April 2024 as compared to $2.528 billion in March 2024 and $2.135 billion in April 2023 while the export of services stood at $646 million in April 2024 against $699 million in March 2024 and $554 million in April 2023.

The country’s deficit in balance on trade in goods and services declined to $19.590 billion in the first 10 months of FY24 as compared to deficit of $23.111 billion the same period in FY23.

The inflow of workers’ remittances stood at $2.812 billion in April 2024 as compared to $2.954 billion March 2024 and $2.198 billion in April 2023. During the first 10 months of FY24, the inflow of workers’ remittance increased to $23.850 billion as compared to $23.043 billion in the same period in FY23.