ISLAMABAD, Dec 22 (APP):Pakistan’s Current Account Balance has posted a surplus of US $447 million in November 2021 against a deficit of $326 million in same month of the previous year.
Likewise on average, the surplus during the period July-November (2020-21) has risen to $1.6 billion compared to a deficit of $1.7 bn over the same period last year.
Meanwhile the State Bank of Pakistan in its official tweet said that in contrast to previous five years, current account has been in surplus throughout FY21 due to an improved trade balance and a sustained increase in remittances.
In November 2020, both exports and imports picked up, reflecting recovery in external demand and domestic economic activity, the central bank added.
It said “this turnaround in the current account, together with improvement in financial inflows, raised SBP’s forex reserves by around $1 billion in November 2020”.
At $13.1 billion, the foreign exchange reserves are now at their highest level in 3 years.