State Bank of Pakistan (SBP) in a statement has said that Pakistan’s economic recovery remain on steady and sustainable trajectory as the current account balance (CAB) recorded a $ 200 million deficit during the month of April 2021.
The central bank further mentioned through a tweet that in the first ten months of this financial year, Current Account maintained a surplus of $ 800 million, “which differs significantly from the $ 4.7 billion deficit in the same period last year.”
After a strong economic recovery in the FY2021, imports have rebounded, but there is an unprecedented growth in remittances and recovery in exports. With country’s foreign exchange reserves at a four-year high, the economic recovery is on a steady and sustainable path, ”SBP said.
Central bank data showed that the trade balance of goods and services also rose to $ 22,736 million during the July’2020 – April’2021 period, from $20,599 million in the same period of the previous fiscal period.
Exports of goods and services also rose from $ 24,403 million in July’2019 to April’2020 to $25,889 million in July’2020 – April 2021 period, marking an increase of six percent.
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