Karachi: The State Bank of Pakistan (SBP) on Wednesday (October 20) reported a 24.48 % shrink in Current Account Deficit (CAD) in September, news sources reported.
The CAD has shrunk to USD 1.1 billion from USD 1.47 billion in August. As per the reports, the shrink in CAD is mainly because exports and remittances posted a strong increase of 31% and 17% respectively in September when compared with the corresponding figures last year. In September, the deficit of goods’ trade increased 5.9%, while the services sector recorded a 65.2% increase on a year-on-year basis.
Reportedly, Pakistan exported USD 2.64 billion in commodities against USD 6.07 billion in imports, while service exports were USD 551 million, down from USD 668 million in September the previous year. However, data has also revealed a deficit of USD 3.4 billion in the first quarter of the fiscal year 2021-22 as compared to a surplus of USD 865 million in the same period last year.
Hazafa reveres the art of writing and has been turned into a property enthusiast by profession. Her daily survival kit includes; tea, coffee, keyboard and paperbacks.
