Current account deficit shrinks to $5.72 bn in July-September
KARACHI: The steps taken by the Pakistan Tehreek-e-Insaf (PTI) government to recover ailing economy have started yielding results, as the current account deficit (CAD) has witness a remarkable decrease in first three months (July-September) of the current fiscal year.
عمران خان حکومت کے معاشی اقدامات کے ثمرات نظر آنے لگے — رواں مالی سال کی پہلی سہ ماہی میں تجارتی خسارے میں نمایاں کمی — جولائی تا ستمبر تجارتی خسارہ 5 ارب 72 کروڑ ڈالر رہا — گزشتہ سال کی پہلی سہ ماہی میں تجارتی خسارہ 8 ارب 79 کروڑ ڈالر تھا#ARYNews
Posted by ARY News on Friday, October 11, 2019
According to figures released on Friday, the CAD was recorded at $5.72 billion as compared to $8.79 billion in the corresponding period of the last year.
Furthermore the exports also saw an increase of nearly 3pc and were recorded at $5.52 billion in the first three months of the ongoing fiscal year.
The imports were also shrunk by 21 per cent from July to September and stood at $3.78 billion in the month of September.
On Thursday, Associated Press of Pakistan (APP) had reported that Overseas Pakistani workers had remitted $5478.11 million during the first three months (July-September) of Financial Year 2019-20.
During the month of September 2019, the inflow of workers’ remittances amounted to $1747.95 million, which is 3.4% higher than August 2019, according to the latest data of State Bank of Pakistan (PBS) released yesterday.