Karachi May 16 2023: Pakistan Current Account Balance (CAB) drop to $18 million surplus in April 2023 from All time high surplus of $750 million in March 2023, according to data released by State Bank of Pakistan.
Cumulatively CAD reduced to $3.3 billion in Jul-Apt FY23 against a deficit of $13.6 billion in Jul-Apr FY22.
Country goods imports decreased to USD 3.7 billion in April 2023 compared with USD 3.9 billion in previous month. However, good exports were also decreased to USD 2.1 billion in April 2023 from USD 2.4 billion in the previous month this year.
Pakistan workers’ remittances recorded an inflow of US$2.2 billion during April 2023, revealed by State Bank of Pakistan.
In terms of growth, during April 2023, workers’ remittances decreased by 12.9 percent on m/m basis.
Cumulatively, with an inflow of US$ 22.7 billion, workers’ remittances fell by 13 percent during first ten months of FY23 as compared to the same period last year.
Remittances inflows during April 2023 were mainly sourced from Saudi Arabia ($489.3 million), United Arab Emirates ($382.1 million), United Kingdom ($360.7 million) and United States of America ($275.8 million).