Pakistan Posts First Current Account Surplus in Over 2 Years
Imports fell more than 40% to $3.83 billion in March, the lowest since August 2020.
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Pakistan reported a current account surplus for the first time in almost two and a half years due to an ongoing ban on non-essential imports in a country that’s waiting for the International Monetary Fund to revive a $6.5 billion bailout program.
The current account, which is the broadest measure of trade, was a surplus $654 million in March, according to data from the State Bank of Pakistan. That compares with a reading of $36 million gap in the previous month. The nation recorded a current account surplus last in November 2020 amid the pandemic curbs.