World Economy

Pak C/A Deficit Shrinks

Pak C/A Deficit ShrinksPak C/A Deficit Shrinks

Pakistan’s current account deficit amounted to a little more than $1 billion in July-November, according to data released by the State Bank of Pakistan, AAP reported. The current account deficit shrank 59%, or $1,452 million, year-on-year in the first five months of the fiscal year, in comparison to $2.4 billion in the same five-month period of the preceding fiscal year. The improvement in the current account balance in the last five months was mainly due to shrinking trade deficit in both goods and services. It amounted to $8.1 billion in Jul-Nov as compared to almost $10 billion recorded over the same period of last year.