Current account deficit at $200m
Gap shrinks 61% year-on-year in April; for 10 months balance is in surplus at $773m
KARACHI:
Pakistan has recorded a moderate current account deficit for the fifth consecutive month in April 2021, at $200 million, as the foreign currency outflow from the country stood high compared to the inflow due to acceleration in imports.
The deficit was 61% lower in April compared to the deficit of $510 million in the same month of last year. The April deficit, however, was six times higher than a negligible deficit of $33 million in the previous month of March, the State Bank of Pakistan (SBP) reported on Tuesday.
Pakistan likely to witness a financial crisis as the flow of foreign investment into the country economy dropped 32.5 per cent to USD 1.55 billion in the firs