Current Account Deficit falls to $3.66 bn in Jul-December.

ISLAMABAD -- The Current Account Deficit shrank by 60 percent to US$3.66 billion during first half (Jul-Dec) of current fiscal year as against the deficit of $9.1 billion recorded during same period of last year.

In December, after posting decline for five consecutive months, the current account deficit edged up to $0.4 billion as compared to $0.252 billion in November, 2022, according to a latest data issued by the SBP.

On year-on-year basis, the current account deficit posted a record decline of 78 percent as it went down to $0.4 billion in December 2022 from $1.86 billion in the same month of the year 2021.

According to the data, the exports of goods decreased from $15.24 billion in Jul-December 2021-22 to $14.2 billion in same period of current fiscal year. On the other hand, the imports of goods also fell from $36.1 billion to $29.5 billion in the period under review.

The overall trade deficit also shrank to $15.6 billion in the first six months of FY23 as compared to the deficit of $23 billion in the same...