Pakistan posts highest-ever monthly current account surplus of $1.2bln in March

Pakistan posted a record current account surplus of $1.2 billion in March — the highest monthly surplus in the country’s history, ARY News reported on Tuesday.

According to official data, the cumulative surplus for the first nine months of the ongoing fiscal year has reached $1.8 billion, signaling a promising turnaround in the country’s external account.

A major contributing factor to the positive trend is the exceptional inflow of workers’ remittances, which surged to an unprecedented $4 billion in March.

In addition, exports in Pakistan witnessed a year-on-year growth of 8.7%, further strengthening the external sector.

According to State Bank of Pakistan, the country’s current account increased by 230 per cent against a surplus of $363 million (revised) on year-on-year (YoY) basis recorded in the same month last 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 Shehzad, Advisor to Finance Minister, said in a statement.

Meanwhile, the government of Pakistan has decided to digitize the national economy, with all ministries tasked with implementing the measures for digitisation.

The decision to this effect was taken at a high level review meeting held in Islamabad on Thursday with Prime Minister Muhammad Shehbaz Sharif in the chair.

In line with the decision, the Prime Minister directed the relevant authorities to immediately establish a dynamic working group for implementing and monitoring the measures for digitization.