KARACHI: The Current Account Deficit (CAD) of Pakistan widened to $567 million in October on a month-on-month basis, the State Bank of Pakistan (SBP) reported said Monday.
Compared to $363 million recorded in September, the CAD of Pakistan reached $567 million in October after an increase of $204 million.
On an MoM basis, that is a 36% jump in deficit. However, the current account deficit declined $2.82 billion from July to October 2022 as compared to $5.35 billion during the last corresponding year.
1/2 CAD was $ 0.57 billion in Oct 2022 against a deficit of $0.36 billion in Sep 2022. Continuous decline in imports helped improve the Current Account Deficit (CAD) during first four months of FY23. pic.twitter.com/SgkolTu4GV
— SBP (@StateBank_Pak) November 21, 2022
The State Bank of Pakistan attributed the significant shrinkage in CAD to the declining trend in imports.
Read more: Football exports witness 62.22pc increase: PBS
The SBP further said that during Jul-Oct 2022, imports reduced by $2.7 billion (or 11.6%) and exports increased by $0.2 billion (or 2.6%) compared to Jul-Oct 2021.
from Business News updates - Latest news stories on Economy from Pakistan https://ift.tt/lriN9ZL
0 Comments