Dawn
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18:08 Dec 17, 2025
The current account posted a $100 million surplus in November, which may change the trend of deficits in previous months of the current fiscal year. However, data provided by the State Bank of Pakistan (SBP) shows that imports were curtailed to improve trade deficit figures during the month. The previous month, October, had posted a current account deficit of $291 million. The previous fiscal year, FY25, surprised many by posting a net current account surplus of $1.932 billion and was widely celebrated by the government as a major positive for the economy. The surplus was also the result of tight import restrictions, which ultimately kept the economic growth rate well below the desired level. Policymakers have yet to announce a strategy to move away from import-led economic growth. The data shows that the $100 million surplus in November was much lower than the $709 million surplus in the same month of the previous fiscal year. In November this year, both exports and imports declined, which helped the current...