• About
  • Advertise
  • Contact
Tuesday, July 5, 2022
  • Login
WRITE FOR US
Economy.pk
  • Economy
  • Politics
  • Technology
  • Education
  • Life & Style
  • Health
  • World
No Result
View All Result
Economy.pk
  • Economy
  • Politics
  • Technology
  • Education
  • Life & Style
  • Health
  • World
Economy.pk
Home Business

Current Account slippage shrinks to 75%

bySidra Butt
March 22, 2021
in Business, Finance, Main, New
Reading Time: 2 mins read
0
Current account deficit shrinks to 75%
97
SHARES
604
VIEWS
Share on FacebookShare on Twitter

In February 2021, According to the Central bank, Pakistan’s current account slippage – the difference between the county’s higher foreign expenditures compared to income – recorded nominal at $50 million.

The deficit has narrowed down this time on the basis of growth in foreign income rather than cut in the expenditures. The income surged with the much-needed increase in export earnings, as inflows on workers’ remittances have already remained strong since June 2020.

RelatedPosts

Govt asked to shun cars over 1000cc

ML-1 cost increases to $9.8 billion

PKR depreciates by Rs2.38 in interbank

The modest deficit has paved the way to boost economic activities in the country. However, the worsening third wave of the Covid-19 pandemic and spikes in prices of the commodities including food and energy remained some of the immediate challenges to economic growth.

On Sunday the State Bank of Pakistan [SBP] reported, The deficit is almost 75% lower in February compared to the same month of the last year. It fell by slightly over 76% compared to the previous month of January.

February was the third successive month which recorded a deficit in the current account balance, which earlier stood in surplus for the first five successive months (Jul-Nov) of the current fiscal year.

Cumulatively in the first eight months (Jul-Feb) of FY21, the current account balance stood in surplus at $881 million compared to a deficit of $2.74 billion in the same period of the last year.

The export of goods grew almost 9% to $2.16 billion in February compared to $1.99 billion in the same month of last year. They improved slightly by over 3% in the month under review compared to the previous month of January 2021.

The growth in exports and strong workers’ remittances allow industrialists to make higher imports.

Tags: ExportForeign IncomeInflowState Bank of Pakistan
Sidra Butt

Sidra Butt

Related Posts

Govt asked to shun cars over 1000cc

Govt asked to shun cars over 1000cc

As the country faces serious economic and energy crises, traders have called upon the government to ban the import and...

ML-1 cost soars to $9.8b

ML-1 cost increases to $9.8 billion

On Monday, the Senate Standing Committee on Railways was informed that the cost of upgrading Karachi to Peshawar Main Line-1...

Next Post
Pfizer vaccine tech can be used to give people cancer jabs

Pfizer's new vaccine likely to hit two birds with one vaccine

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Recommended

British High Commissioner Christian Turner meets Imran Khan

British High Commissioner Christian Turner meets Imran Khan

Govt asked to shun cars over 1000cc

Govt asked to shun cars over 1000cc

ML-1 cost soars to $9.8b

ML-1 cost increases to $9.8 billion

PKR depreciates by Rs2.38 in interbank

PKR depreciates by Rs2.38 in interbank

Pakistan’s microfinance institution launches term finance certificates of $4.9 million

Pakistan’s microfinance institution launches term finance certificates of $4.9 million

Indian Airline plane makes ‘emergency landing’ in Karachi

Indian Airline plane makes ‘emergency landing’ in Karachi

Connect with us

Twitter

Economy.pk

Economy.pk touches diverse topics with a lighter note and is geared toward audiences with various interests and all ages. Come and explore Economy.pk. Ample details and analysis are provided in extraordinarily readable manner making them compelling and interesting at the same time.

Category

  • World
  • Politics
  • Business
  • Technology
  • Education
  • Health
  • Life & Style
  • Opinions

Social Media

  • Facebook
  • Instagram
  • Twitter
  • Linkedin

Sitelinks

  • Sitemap

Download our APP

download on android app download on apple app
  • About
  • Advertise
  • Contact

© 2022 All Rights Reserved Economy.pk | Designed & Developed by Digital Otters

  • LATEST
  • World
    • Europe
    • Americas
    • Asia
    • Oceania
    • Africa
    • Canada
    • Middle East
  • Finance
  • Politics
  • Business
    • Economy
    • Finance
    • Entrepreneurship
    • Real Estate
  • Technology
    • Cyber Security
    • Mobiles
    • Social Media
  • Education
  • Sports
  • Life & Style
    • Personalities
    • Art
    • Culture
    • History
    • Entertainment
    • Fashion
    • Food
    • Health
      • Environment
      • Fitness
  • Sponsored

© 2022 All Rights Reserved Economy.pk | Designed & Developed by Digital Otters

No Result
View All Result

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In