Islamabad: Prime Minister (PM) Imran Khan has lauded the government for recording a USD 99 million current account surplus in October; stating that the economy was ‘now headed in the right direction’, according to news sources.
As per officials, this current account surplus has been recorded for the first time in over four years. They said that the economy had shown remarkable signs of improvement as compared to the September 2019 figures (which amounted to a negative USD 284 million). The deficit for the same period of the previous financial year stood at USD 1,280 million.
According to the latest data released by the Pakistan Bureau of Statistics (PBS), the country’s trade deficit for the first four months (July-Oct) of tax year 2019-20 has registered a 33.52% decline – setting at USD 7.77 billion – as compared to last year’s deficit of USD 11.696 billion.
Further, Pakistan’s exports also increased (on an annual basis) by 6.75% to USD 2.024 billion in October 2019 from USD 1.896 billion registered in the same period last year. The imports, on the other hand, decreased by 15.41% to USD 4.074 billion October 2019.
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