Karachi April 23 2022: Pakistan recorded Current Account Deficit (CAD) of USD 1,028 million for the month of March 2022 when compared to deficit of USD 369 million during March 2021.
"Despite high global commodity prices, the turnaround in the current account continues, with a deficit of $1bn in Mar, $500mn lower than the average during FY22. Moreover, the non-oil balance remained in surplus for the 2nd consecutive month." Says Central Bank
On year on year basis, the main reason behind increase in deficit was 17 percent increase in country's imports to USD 7.2 billion. Meanwhile, country's exports and remittances also increased by 18 percent and 3 percent, respectively.
During 9MFY22, country’s deficit reached to USD 13.2 billion compared with deficit of USD 275 million during the same period last year.