KARACHI: Pakistan’s current account moved into deficit in April, ending a three-month surplus streak, according to statistics released by the State Bank of Pakistan.
The country recorded a current account deficit of $324 million in April, reflecting a situation where income remained lower than expenditure.
Pakistan’s current account had remained in surplus for three consecutive months before turning negative in April. According to the State Bank, the country’s current account posted a deficit of $324 million during the month.
First deficit this year
This was the first time this year that Pakistan’s current account shifted from surplus to deficit. In January, the current account recorded a surplus of $70 million. The surplus increased to $230 million in February.
In March, Pakistan’s current account surplus rose sharply to $1.13 billion before slipping into deficit in April.
Imports, exports affected balance
Experts said the current account was affected by multiple factors, including rising imports and declining exports. The change indicates renewed pressure on Pakistan’s external account position after several months of positive performance.
