https://arab.news/yt7ge
- March surplus of $1.07 billion among highest on record, marks third straight monthly gain
- July-March balance swings from $700 million deficit to marginal surplus as gaps narrow
KARACHI: Pakistan posted a current account surplus of $1.07 billion in March, one of its strongest monthly performances on record, as officials pointed to a sustained improvement in the country’s external position.
Pakistan has long struggled with a widening current account deficit driven by heavy imports, particularly energy, and weak export growth, which has put pressure on foreign exchange reserves and the currency.
However, tighter import controls, improved remittance inflows and policy adjustments under an International Monetary Fund (IMF) program have helped narrow the gap and support a turnaround in recent months.
“Pakistan’s external sector is firming up, with sustained surpluses signaling improving balance of payments stability,” Finance Adviser Khurram Schehzad said in a social media post.
Sharing the latest statistics, he said this was the third consecutive monthly surplus this year, following gains of $68 million in January and $231 million in February, helping the country reverse earlier deficits and stabilize its balance of payments after a prolonged period of external stress.
Schehzad said the July–March fiscal balance had shifted from a deficit of around $700 million to a marginal surplus, with March’s performance alone offsetting earlier shortfalls, even as global energy prices remained volatile.
The improvement in the external account is seen as critical for rebuilding foreign exchange reserves and strengthening investor confidence as Pakistan works to sustain macroeconomic stability under its IMF-backed reform program.