Pakistan’s CAD narrowed 48% to $809 million

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Current Account Deficit (CAD) of Pakistan witnessed a decline of 48 percent  MoM to $ 809 million during January 19, as compared to $1544 million in December 18.

During Seven months of Fiscal year 19, the deficit has increased by 17 percent Year-on-Year basis to $8424 million.

Major decline in CAD is driven by 15 percent (USD 305 million) MoM surge in exports to $ 2309 million compared with $2004 in preceding month.

Decline in deficit further supported by 3 percent (USD 156 million) MoM decline in imports.

Decline of CAD (USD 735 million) is driven by the decline in overall trade decifit (USD 461 million).

However, remittances flat at $ 1743 million in January 19. In 7MFY19, 17 percent YoY decline in Current Account Deficit (USD 1700 million) is majorly supported by decline (USD 1144 million) in imports of services along with 12 percent YoY (USD 1389 million) rise in remittances.