Pakistan Records Highest Current Account Surplus in 15 Years

ISLAMABAD: Pakistan achieved a current account (CA) surplus of $1.2 billion during the first half of the fiscal year 2025, marking its highest surplus in 15 years, driven by increased remittances and exports, The News reported on Saturday.

Data released by the State Bank of Pakistan (SBP) on Friday revealed a stark contrast to the $1.397 billion deficit recorded in the same period last year. The surplus for December 2024 alone surged to $582 million, reflecting a 109% year-on-year increase, though it declined by 15% compared to November.

This positive development follows the United Arab Emirates’ decision to roll over $2 billion in deposits with the SBP for another year, which were set to mature this month.

Prime Minister Shehbaz Sharif lauded the surplus, which has been recorded for three consecutive months—October, November, and December 2024—describing it as evidence of sound economic policies. “We are actively working to further increase the surplus in the current fiscal year,” the prime minister stated in a press release.

Government Efforts to Enhance Trade and Combat Smuggling

In a review meeting on transit cargo and tracking systems, PM Shehbaz directed authorities to install international-standard cargo scanning systems in Karachi and other key trading hubs. The move aims to curb smuggling and bolster the country’s trade infrastructure.

This historic current account performance reflects a potential turnaround in Pakistan’s economic trajectory, offering much-needed optimism amid broader economic challenges.