Pakistan posted a current account surplus of $582 million in December 2024, marking the fifth consecutive month of surplus, according to a report by Topline Securities. The improvement is attributed to higher remittances and a better trade balance.
For the first half of the fiscal year 2025 (1HFY25), the current account surplus reached $1.21 billion, a significant turnaround from the $1.397 billion deficit recorded in the same period last year (1HFY24). This reflects a notable improvement in the country’s external account position.
The earlier reported surplus for the first five months of FY25 (5MFY25) was $944 million. With December’s surplus of $582 million, the 1HFY25 surplus increased by $266 million to $1.21 billion. This suggests that data for previous months was revised upward by $316 million.
Worker remittances played a key role in the surplus, with inflows reaching $3.079 billion in December 2024, a 29% year-on-year (YoY) increase. For 1HFY25, total remittances amounted to $17.84 billion, reflecting a robust 33% growth compared to the same period last year.
According to the State Bank of Pakistan (SBP), the country’s total exports of goods stood at $16.2 billion in 1HFY25, while imports were recorded at $27.7 billion during the same period. The improved trade balance, alongside higher remittances, has been instrumental in achieving the current account surplus.
