Karachi (Web Desk): Pakistan has reported a current account surplus of $1.2 billion for March 2025, according to the latest data released by the State Bank of Pakistan (SBP).
This marks a significant improvement compared to the previous month, when the country faced a current account deficit of $97 million. In comparison to the same month last year, when the surplus stood at $363 million, the current figures highlight a substantial upward shift.
On a cumulative basis, the current account surplus for the first nine months of the fiscal year 2024-25 (9MFY25) has reached $1.86 billion.
This reflects a remarkable turnaround from the same period in the previous fiscal year (9MFY24), which recorded a deficit of $1.65 billion—signaling a year-on-year improvement of 212.5%.
During March, total exports rose to $3.51 billion, showing an increase of 8.7% compared to $3.23 billion in March 2024. Month-on-month, exports also grew by 5.9%, up from $3.32 billion in February.
Meanwhile, imports in March stood at $5.92 billion, registering an 8.0% rise year-on-year compared to $5.48 billion. However, on a monthly basis, imports declined by 1.9%.
As a result, the trade deficit in goods and services widened by 7.0% year-on-year to $2.41 billion, though it narrowed by 11.5% compared to the previous month.
Over the nine-month period of FY25, the trade deficit reached $21.05 billion, marking a 14.7% increase from the $18.35 billion deficit recorded in 9MFY24.
From July to March, exports totaled $30.9 billion, up 8.1% from $28.58 billion during the same period last year. Imports for the nine months rose by 10.7%, climbing to $51.94 billion from $46.92 billion.
A major contributor to the improved current account position has been the strong inflow of workers’ remittances. In March, remittances surged by 37.3% year-on-year to $4.06 billion from $2.95 billion in March 2024.
Compared to the previous month’s $3.12 billion, this represents a 29.8% increase. Cumulatively, remittances reached $28.03 billion in 9MFY25, reflecting a 33.2% rise from $21.04 billion during the same period of the previous fiscal year.