Current Account Deficit falls to $0.7 billion in August.

ISLAMABAD -- The current account deficit shrank to $0.7 billion in August compared to $1.2 billion in July 2022, largely reflecting a continued moderation in overall imports, a data released by State Bank of Pakistan (SBP) said on Thursday.

Cumulatively, in Jul-Aug of current fiscal year (FY23), Current Account Deficit (CAD) declined by $0.5 billion to $1.9 billion compared to the same period last year mainly due to increase in exports by $0.5 billion and contraction in imports by $0.2 billion.

According to the data, the exports of goods rose from US$ 2.34 billion in August 2021 to $2.81 billion in same month of current fiscal year. The imports of goods decreased from $5.96 billion to $5.75 billion in the month under review. The overall trade deficit also shrank to $2.94 billion as compared to the deficit of $3.63 billion in August 2021.

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