Current account deficit shrinks by 10pc during July to Nov
Current account deficit for the month of November increased by 3 percent MoM to US$1.255 billion
KARACHI (Dunya News) – Current account deficit for the month of November increased by 3 percent MoM to US$1.255 billion, as compared to US$1.213 million in October.
Current account deficit in July to November shrank by 10.6 percent to US$6.09 billion, as compared to US$6.812 billion in the corresponding period last year.
During November, the increase in current account deficit was attributable to a shortfall in remittances as they plunged 19.58% to $1.608 billion compared to $1.92 billion in October, a decline in exports of 8% ($164 million) and imports fell by 9.4% ($446 million).
Primary income deficit fell by 8.6% ($44 million) and secondary income decreased by 10.7% ($230 million) MoM to $1,926 million.
