Pakistan’s external account posted a deficit for the second month in February as its current account deficit (CAD) stood at $50 million. It was $210 million in January.
However, the current account during the eight months of FY2020-21 is still in a surplus of $881 million. It was in deficit of $2.7 billion during the same period last year.
“On a month-on-month basis, the trade deficit remained almost unchanged as slight uptick in exports was cancelled out by import pressure, most likely due to rising food and machinery imports,” read a report by JS Global, a brokerage house.
Meanwhile, the country’s remittances stood at $2.27 billion in February. They were 24% higher as compared to February 2020.
