Pakistan posts record $1.2bn current account surplus in March 2025

Pakistan’s current account (C/A) posted a significant surplus of $1.2 billion in March 2025, against a deficit of $97 million (revised) last month, data released on Thursday by the State Bank of Pakistan (SBP) showed.

On year-on-year (YoY) basis, the C/A increased 230% against a surplus of $363 million (revised) recorded in the same month last year.

The country posted “highest-ever monthly C/A surplus” in March 2025, according to brokerage houses Topline Securities and Arif Habib Limited.

Overall, the figure takes Pakistan’s current account to a surplus of $1.86 billion in the first nine months of the current fiscal year (9MFY25), in stark contrast to a massive deficit of $1.65 billion in the same period of the previous fiscal year.

“With oil prices down, and remittances continuing to make a record mark, Pakistan’s current account is expected to be in deep surplus by June FY25 (may also continue in FY26), thereby resulting in further scale-up in overall investor confidence,” Khurram Schehzad, Advisor to Finance Minister, said in a statement.

Breakdown

In March 2025, the country’s total export of goods and services amounted to $3.51 billion, up 8.7% as compared to $3.23 billion in the same month of the previous year.

Meanwhile, total imports clocked in at $5.92 billion during March 2025, an increase of 8% on a yearly basis, according to SBP data.

Pakistan receives record $4.1bn in remittances in March, says SBP governor

Workers’ remittances clocked in at $4.05 billion in March 2025, an increase of over 71% as compared to the previous year.

Low economic growth along with high inflation have helped curtail Pakistan’s current account deficit with an increase in exports also helping the cause. A high interest rate, which has declined in recent months, and some restrictions on imports have also aided the policymakers’ objective of a narrower current account deficit.