{"id":12103,"date":"2025-01-17T14:00:20","date_gmt":"2025-01-17T09:00:20","guid":{"rendered":"https:\/\/pakalerts.net\/english\/?p=12103"},"modified":"2025-01-17T14:00:20","modified_gmt":"2025-01-17T09:00:20","slug":"usd-582-million-current-account-surplus-recorded-in-december","status":"publish","type":"post","link":"https:\/\/pakalerts.net\/english\/?p=12103","title":{"rendered":"USD 582 Million Current Account Surplus Recorded in December"},"content":{"rendered":"<p><strong>According to data released by the State Bank of Pakistan (SBP), Pakistan\u2019s current account recorded a surplus of USD 582 million in December 2024, which is 109% higher than the USD 279 million surplus noted in the same month last year.<\/strong><\/p>\n<p>This marks the fifth consecutive month of a current account surplus.<\/p>\n<p>Meanwhile, the November surplus was originally reported at USD 729 million, but the SBP revised it to USD 684 million in its latest figures.<\/p>\n<p>Overall, these numbers place Pakistan\u2019s current account at a surplus of USD 1.21 billion in the first half of the current fiscal year, compared to a deficit of USD 1.397 billion in the corresponding period last year.<\/p>\n<p><strong>Breakdown<\/strong><\/p>\n<ul>\n<li>In December 2024, the country\u2019s total exports of goods and services stood at USD 3.838 billion\u2014about 9% higher than USD 3.53 billion in December last year.<\/li>\n<li>According to the SBP, imports in December 2024 were USD 5.781 billion, an increase of over 15% year over year.<\/li>\n<li>Worker remittances reached USD 3.079 billion, 29% more than last year.<\/li>\n<\/ul>\n<p>Slower economic growth and rising inflation have helped reduce Pakistan\u2019s current account deficit, further bolstered by increased exports. In recent months, a reduction in interest rates and certain import restrictions have also assisted policymakers in narrowing the deficit.<\/p>\n<p><strong>First Half of the Current Fiscal Year<\/strong><\/p>\n<ul>\n<li>During the first half of the current fiscal year, total exports of goods and services reached USD 20.28 billion.<\/li>\n<li>According to SBP data, imports during this period stood at USD 33.38 billion.<\/li>\n<li>Worker remittances amounted to USD 17.85 billion, approximately 33% higher than USD 13.44 billion in the same period last year.<\/li>\n<\/ul>\n<p>The current account is a vital lifeline for cash-strapped Pakistan, as the country heavily depends on imports to run its economy. A growing deficit puts pressure on the exchange rate and depletes official foreign exchange reserves, whereas a surplus has the opposite effect.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>According to data released by the State Bank of Pakistan (SBP), Pakistan\u2019s current account recorded a surplus of USD 582 million in December 2024, which is 109% higher than the USD 279 million surplus noted in the same month last year. This marks the fifth consecutive month of a current account surplus. Meanwhile, the November [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":12104,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"googlesitekit_rrm_CAowgLK2DA:productID":"","_sitemap_exclude":false,"_sitemap_priority":"","_sitemap_frequency":"","jnews-multi-image_gallery":[],"jnews_single_post":{"subtitle":""},"jnews_primary_category":[],"jnews_social_meta":[],"footnotes":""},"categories":[41,47,46,36],"tags":[4924,4925,3696,2443,651,4926,215,4928,4927,650],"class_list":["post-12103","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","category-important-news","category-latest","category-pakistan","tag-current-account-surplus","tag-economic-growth","tag-exports","tag-fiscal-year","tag-foreign-exchange","tag-imports","tag-inflation","tag-interest-rates","tag-remittances","tag-state-bank-of-pakistan"],"_links":{"self":[{"href":"https:\/\/pakalerts.net\/english\/index.php?rest_route=\/wp\/v2\/posts\/12103","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/pakalerts.net\/english\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/pakalerts.net\/english\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/pakalerts.net\/english\/index.php?rest_route=\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/pakalerts.net\/english\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=12103"}],"version-history":[{"count":0,"href":"https:\/\/pakalerts.net\/english\/index.php?rest_route=\/wp\/v2\/posts\/12103\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/pakalerts.net\/english\/index.php?rest_route=\/wp\/v2\/media\/12104"}],"wp:attachment":[{"href":"https:\/\/pakalerts.net\/english\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=12103"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/pakalerts.net\/english\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=12103"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/pakalerts.net\/english\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=12103"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}