Second straight C/A surplus recorded

Pakistan's current account recorded a five-month high surplus of $119 million in September 2024, primarily driven by strong inflows of workers' remittances from overseas Pakistanis and an improvement in export earnings, including IT exports. This marks the second consecutive month of a current account surplus, helping stabilise the rupee, bolster foreign exchange reserves, and enhance the country's capacity to pay for imports and meet foreign debt obligations on time. According to data from the State Bank of Pakistan (SBP), the current account deficit for the first quarter (July-September) of fiscal year 2024-25 dropped by 92% to just $98 million, compared to $1.24 billion in the same quarter last year. On a month-on-month basis, the surplus surged threefold to $119 million in September, compared to $29 million in August 2024.