Current Account Deficit posts a massive 73% fall.

ISLAMABAD -- Pakistan's Current Account deficit narrowed to $1.8 billion in first five months

(Jul-Nov) of the year 2019-20 as compared to deficit of $ 6.7 billion in same period, a year ago, showing a massive decline of 73 percent, State Bank of Pakistan reported on Thursday.

On year-on-year basis, the current account deficit also witnessed a huge fall of

72.64 percent to $319 million in November 2019 compared to $1.166 billion in same month of the previous year.

The details show that Current Account Balance without official transfers shrank to $2.06 billion in the corresponding period against $7.088 billion in same period of last year, showing a decline of 70.92 percent.

Balance of trade in goods also plunged by 40.14 percent from $13.368 billion in

July-November 2018-19 to $8.002 billion in July-November this year.

Similarly, balance of trade in services also narrowed by 6.63 percent to $1.62 billion compared to $1.734 billion.

Workers' remittances in July-November 2019-20 also increased to $9.299 billion in five months as compared...