• Pakistan posted a Current Account surplus of USD619mn for the month of Mar’24 compared to surplus of USD98mn during Feb’24 and USD537mn in Mar’23.
• This took 9MFY24 CAD to USD508mn against USD4.05bn in SPLY.
• The decline is attributed to 8% YoY decrease in total imports of goods for 9MFY24. Whereas CAD recovered by 5.3x MoM, followed by 1% MoM drop in total exports during Mar’24.
• Meanwhile, in 9MFY24, the total exports increased up by 9% YoY, whereas, remittances recovered by 1% YoY to USD21.3bn, respectively.
• Trade deficit witnessed an increase of 11% YoY to USD1.9bn during Mar’24. Cumulatively, trade deficit contracted by 25% YoY to USD15.75bn in 9MFY24 vs USD21.07bn in SPLY.
Important Disclosures
Disclaimer: This report has been prepared by Chase Securities Pakistan (Private) Limited and is provided for information purposes only. Under no circumstances, this is to be used or considered as an offer to sell or solicitation or any offer to buy. While reasonable care has been taken to ensure that the information contained in this report is not untrue or misleading at the time of its publication, Chase Securities makes no representation as to its accuracy or completeness and it should not be relied upon as such. From time to time, Chase Securities and/or any of its officers or directors may, as permitted by applicable laws, have a position, or otherwise be interested in any transaction, in any securities directly or indirectly subject of this report Chase Securities as a firm may have business relationships, including investment banking relationships with the companies referred to in this report This report is provided only for the information of professional advisers who are expected to make their own investment decisions without undue reliance on this report and Chase Securities accepts no responsibility whatsoever for any direct or indirect consequential loss arising from any use of this report or its contents At the same time, it should be noted that investments in capital markets are also subject to market risks This report may not be reproduced, distributed or published by any recipient for any purpose
