Tuesday, January 19, 2021

Pakistan: CAD declined by 72% YoY in Feb’19

Featured

Azerbaijan to start vaccinating citizens from next Monday

The doses of the Chinese anti-corona virus vaccine will be transported first to Turkey, where they will be examined...

Adam Schiff: Donald Trump must be removed

Adam Schiff, Chairman of the Intelligence Committee in the US House of Representatives, affirmed that they continue to defend...

Indonesia proposed a budget of 1.5 billion dollars for Chinese Sinovac vaccine

Indonesia has proposed a budget of 20.9 trillion rupees ($ 1.49 billion) to buy the Coronavirus vaccine from Sinovac,...
Zain Zubair
Zain Zubair
Zain Zubair is a staff writer for World News Observer. He is studying ACCA in Pakistan. Besides Accountancy and writing pieces, he loves cooking and nature photography. Zain has attended various modern journalism workshops. Contact: [email protected]

Current Account Deficit (CAD) during Feb’19 displayed a drop of 72% YoY / 59% MoM to USD 356mn. Major reason for this compression in CAD was 27% YoY / 23% MoM reduction in trade deficit on goods along with 54% YoY / 7% MoM decline in deficit of services.

- Advertisement -

Dip in imports of goods to USD 3.5bn (29 months low, -19% YoY / -20% MoM) was the major reason behind the improvement in balance of trade.

During 8MFY19, the Current Account Deficit shrank by 23% YoY to reach USD 8.84bn. Higher remittances contributed the most (up by USD 1.5bn or 59% of total compression in CA deficit).

In addition, reduction in deficit of trade in services contributed approx. USD 1.3bn or 51% of total improvement in Current Account.

- Advertisement -
Zain Zubair
Zain Zubair
Zain Zubair is a staff writer for World News Observer. He is studying ACCA in Pakistan. Besides Accountancy and writing pieces, he loves cooking and nature photography. Zain has attended various modern journalism workshops. Contact: [email protected]
- Advertisement -

Latest News

Azerbaijan to start vaccinating citizens from next Monday

The doses of the Chinese anti-corona virus vaccine will be transported first to Turkey, where they will be examined...

As You Likee: Express more, Create more with Likee’s In-App Features

The online short videos platform is rapidly becoming the content production application of choice for hundreds of thousands of Pakistanis to showcase their creativity,...

Adam Schiff: Donald Trump must be removed

Adam Schiff, Chairman of the Intelligence Committee in the US House of Representatives, affirmed that they continue to defend the democracy of the United...

Indonesia proposed a budget of 1.5 billion dollars for Chinese Sinovac vaccine

Indonesia has proposed a budget of 20.9 trillion rupees ($ 1.49 billion) to buy the Coronavirus vaccine from Sinovac, the Indonesian health minister said...

IFN declares SBP as top central bank for promoting Islamic finance

State Bank of Pakistan (SBP) has been voted as the Best Central Bank in promoting Islamic finance for the fourth time by a poll...

Related News