Business
May 26, 2021
KARACHI: Pakistan’s current account deficit shrank 61 percent year-on-year in April 2021 helped by upsurge in remittances and a healthy recovery in exports, the central bank’s data showed on Tuesday.
The current account balance posted a deficit of $200 million in April compared to a deficit of $510 million a year ago. The deficit was, however, 506 percent higher than the previous month.
The current account showed a surplus of $773 million in 10 months of this fiscal year as against the deficit of $4.657 billion a year ago.
The trade deficit widened 35.3 percent to $3.041 billion in April as roaring domestic demand necessitated imports with the recovery in economic activities after coronavirus pandemic.