Current A/c deficit widens to $1.66bn in October

KARACHI: Pakistan’s current account deficit widened by 46.65% MoM to stand at $1.66 billion in October 2021 from $1.13bn in September 2021 on the back of a moderate decline in exports & remittances &some uptick in services imports, according to the latest data released by State Bank of Pakistan (SBP).
High energy prices kept the import bill elevated despite a downtick in non-energy imports, the central bank said on Twitter. However, in the same month last year, the country’s current account posted a surplus of $448mn. During 4MFY22, the current account witnessed a deficit of around $5.084bn against a surplus of $1.313bn in the corresponding period last year. – TLTP