Karachi April 19 2023: Pakistan Current Account Balance (CAB) recorded $654 million surplus in March 2023 after a span of 28 months against a deficit of $36 million in February 2023, according to data released by State Bank of Pakistan.
This is the second highest monthly surplus posted by Pakistan in its history.
Cumulatively CAD reduced to $3.4 billion in Jul-Mar FY23 against a deficit of $13.0 billion in Jul-Mar FY22.
Country goods imports decreased to USD 3.99 billion in March 2023 compared with USD 6.11 billion a year ago. However, good exports were also decreased to USD 2.43 billion in March 2023 from USD 3.07 billion in the same month last year.
Workers’ remittances recorded an inflow of US$2.5 billion during Mar 23. In terms of growth, during Mar 23, remittances increased by 27.4 percent on m/m and
decreased by 10.7 percent on y/y basis.
Remittances inflows during Mar 23 were mainly sourced from Saudi Arabia ($563.9 million), United Arab Emirates ($406.7 million), United Kingdom ($422 million) and United States of America ($316 million).
