Karachi March 20 2023: Current Account Deficit (CAD) recorded $0.1 billion in Feb 2023 against a deficit of $0.5 billion in Feb 2022, according to data published by State Bank of Pakistan.
Cumulatively CAD reduced to $ 3.9 billion in Jul-Feb FY23 compared to a deficit of $ 12.1 billion in Jul-Feb FY22.
Country goods imports decreased to USD 3.9 billion in February 2023 compared with USD 5.0 billion a year ago. However, good exports were also decreased to USD 2.2 billion in February 2023 from USD 2.9 billion in the same month last year.
Workers’ remittances recorded an inflow of US$ 2.0 billion during Feb 23. During Feb 23, remittances increased by 4.9 percent on m/m. On y/y basis, remittances decreased by 9.5 percent.
Remittances inflows during Feb 23 were mainly sourced from Saudi Arabia ($454.6 million), United Arab Emirates ($324.0 million), United Kingdom ($317.0 million) and United States of America ($219.4 million)