AVN 63.69 Decreased By ▼ -4.01 (-5.92%)
BOP 8.78 Decreased By ▼ -0.46 (-4.98%)
CHCC 134.50 Decreased By ▼ -3.50 (-2.54%)
DCL 10.05 Decreased By ▼ -0.53 (-5.01%)
DGKC 108.00 Decreased By ▼ -4.60 (-4.09%)
EFERT 64.45 Decreased By ▼ -0.35 (-0.54%)
EPCL 41.30 Decreased By ▼ -2.45 (-5.6%)
FCCL 21.00 Decreased By ▼ -0.26 (-1.22%)
FFL 15.05 Decreased By ▼ -0.76 (-4.81%)
HASCOL 15.08 Decreased By ▼ -0.62 (-3.95%)
HBL 131.10 Decreased By ▼ -3.90 (-2.89%)
HUBC 81.62 Decreased By ▼ -2.58 (-3.06%)
HUMNL 7.40 Decreased By ▼ -0.51 (-6.45%)
JSCL 24.29 Decreased By ▼ -1.81 (-6.93%)
KAPCO 28.35 Decreased By ▼ -0.79 (-2.71%)
KEL 3.71 Decreased By ▼ -0.12 (-3.13%)
LOTCHEM 11.75 Decreased By ▼ -0.24 (-2%)
MLCF 41.85 Decreased By ▼ -0.46 (-1.09%)
OGDC 93.33 Decreased By ▼ -3.02 (-3.13%)
PAEL 32.92 Decreased By ▼ -1.48 (-4.3%)
PIBTL 12.86 Decreased By ▼ -0.48 (-3.6%)
PIOC 95.00 Decreased By ▼ -4.00 (-4.04%)
POWER 9.77 Decreased By ▼ -0.30 (-2.98%)
PPL 83.60 Decreased By ▼ -2.36 (-2.75%)
PSO 200.00 Decreased By ▼ -6.89 (-3.33%)
SNGP 56.60 Decreased By ▼ -2.94 (-4.94%)
STPL 13.15 Decreased By ▼ -0.05 (-0.38%)
TRG 46.60 Decreased By ▼ -3.13 (-6.29%)
UNITY 23.00 Increased By ▲ 0.76 (3.42%)
WTL 1.05 Decreased By ▼ -0.02 (-1.87%)
BR100 4,133 Decreased By ▼ -155.2 (-3.62%)
BR30 21,019 Decreased By ▼ -858.48 (-3.92%)
KSE100 39,888 Decreased By ▼ -1298.86 (-3.15%)
KSE30 16,750 Decreased By ▼ -546.72 (-3.16%)
COVID-19 TOTAL DAILY
Business

Pakistan’s CAB turns into surplus for second consecutive month

  • SBP was of the view that efforts to attract workers’ remittances, flexible exchange rate and relatively benign import prices explain the improving current account balance.
23 Sep 2020

Pakistan’s Current Account Balance (CAB) has turned into a surplus for the second consecutive month in August 2020, revealed State Bank of Pakistan (SBP) in its latest data on Wednesday.

As per SBP, the CAB surplus was led by impressive growth in workers’ remittances and lower import payment. CAB surplus amounted to $508 million and $297mn during July and August 2020.

Meanwhile, the cumulatively CAB reached a surplus of $805mn during Jul-Aug FY21 compared to a deficit of $1.2 billion recorded in the same period last year.

SBP was of the view that efforts to attract workers’ remittances, flexible exchange rate and relatively benign import prices explain the improving current account balance.

Furthermore, the Balance of Trade in Goods and Services in August stood at a deficit of $1.751bn as compared to a deficit of $2.018bn.

The Current Account percentage of GDP stood at 1.3pc in August as compared to 2.2pc recorded in July.