KARACHI: The Current Account Deficit (CAD) of Pakistan widened to $567 million in October on a month-on-month basis, the State Bank of Pakistan (SBP) reported said Monday.
Compared to $363 million recorded in September, the CAD of Pakistan reached $567 million in October after an increase of $204 million.
On an MoM basis, that is a 36% jump in deficit. However, the current account deficit declined $2.82 billion from July to October 2022 as compared to $5.35 billion during the last corresponding year.
The State Bank of Pakistan attributed the significant shrinkage in CAD to the declining trend in imports.
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The SBP further said that during Jul-Oct 2022, imports reduced by $2.7 billion (or 11.6%) and exports increased by $0.2 billion (or 2.6%) compared to Jul-Oct 2021.
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