Remittances drop, exports grow in 10 months of 2022 - Economic outlook report
- By Web Desk -
- Oct 30, 2022
ISLAMABAD: Pakistan’s exports, remittances, current account deficit, and industrialization dropped in the first 10 months of 2022, the Economic Outlook report showed, ARY News reported.
The Finance Ministry on Sunday issued the economic outlook report for October, which shows a drop in remittances and imports of the country. From July-September, the country’s remittances, imports, current account deficit, and industrialization dropped, it shows.
According to the report, Pakistan remittances dropped by 3.6% to $7.7 billion. While industrialization in the country dropped by 83.7% to $223.1, the country’s exports went up by 5.5% to $7.6 billion.
The country current account deficit dropped to $2.20 billion.
FBR’s collection went up by 17% to Rs1634 billion while the budget deficit went up by 45.4% to Rs372 billion. The SBP foreign reserves are at $8.88 billion as of October 26, 2022.
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The report added that a drop in inflation is expected in November in comparison to October.