Pakistan’s current account deficit slightly widens to $1.9bn in November

[FOOLS_NIGHTMARE]

• "Current account deficit widened slightly to $1.91bn in Nov as imports outstripped strong exports, robust remittances," SBP reports.
• Total exports and remittances increase by 20% and 1% on a year-on-year basis, respectively.
• SBP Governor says the current account deficit is expected to increase for the next two months and will then decrease gradually.

KARACHI: Pakistan’s current account deficit — the gap between foreign payments and inflows — edged up to $1.91 billion in November 2021, somewhat in line with the market expectations.

The current account balance recorded a surplus of $563 million in the same period of last year, the State Bank of Pakistan (SBP) reported on Monday.

In October, the deficit amounted to $1.76 billion. It was 8% lower than the deficit recorded in the month under review.

The data showed during the first five months of the current fiscal year 2021-22, the country’s deficit reached $7.08 billion compared with a surplus of $1.86 billion during the same period last year.
The central bank wrote on Twitter: “Current account deficit widened slightly to $1.91 billion in November from $1.76 billion in October as imports outstripped strong exports and robust remittances.”
It further added that imports were mainly lifted by high international commodity prices in addition to strong domestic economic recovery.


According to the post-data commentary by Arif Habib Limited on a year-on-year basis, the primary reason behind the deficit was a 57% year-on-year increase in total imports to $7.3 billion.
However, the brokerage house added that total exports and remittances also increased by 20% and 1% year-on-year, respectively.
During November, the balance of trade in goods recorded a 103% increase in deficit year-on-year, while for the services the deficit surged by 408% on a year-on-year basis.
Pakistan exported goods worth $2.71 billion compared to the imports worth $6.42 billion, while the value of exports of services clocked in at $583 million compared to $832 million in November last year.
Last week, SBP Governor Dr Reza Baqir had said that the current account deficit is expected to increase for the next two months and will then decrease gradually.
Baqir had said Pakistan wasn’t heading towards a situation where the interest rate in the country could surge to 13.52%.
“Last time Pakistan faced such a situation was when there was a severe financial crisis in the country when the current account deficit was around $19 billion,” he had explained.

Pakistan’s current account deficit slightly widens to $1.9b in November

Current account deficit widened slightly to $1.91bn in Nov as imports outstripped strong exports, robust remittances, SBP reports.Total exports and remittances increase by 20% and 1% on a year-on-year basis, respectively.SBP Governor says...

www.geo.tv

 

[ziaulislam]

View attachment 802265

• "Current account deficit widened slightly to $1.91bn in Nov as imports outstripped strong exports, robust remittances," SBP reports.
• Total exports and remittances increase by 20% and 1% on a year-on-year basis, respectively.
• SBP Governor says the current account deficit is expected to increase for the next two months and will then decrease gradually.

KARACHI: Pakistan’s current account deficit — the gap between foreign payments and inflows — edged up to $1.91 billion in November 2021, somewhat in line with the market expectations.

The current account balance recorded a surplus of $563 million in the same period of last year, the State Bank of Pakistan (SBP) reported on Monday.

In October, the deficit amounted to $1.76 billion. It was 8% lower than the deficit recorded in the month under review.

The data showed during the first five months of the current fiscal year 2021-22, the country’s deficit reached $7.08 billion compared with a surplus of $1.86 billion during the same period last year.
The central bank wrote on Twitter: “Current account deficit widened slightly to $1.91 billion in November from $1.76 billion in October as imports outstripped strong exports and robust remittances.”
It further added that imports were mainly lifted by high international commodity prices in addition to strong domestic economic recovery.


According to the post-data commentary by Arif Habib Limited on a year-on-year basis, the primary reason behind the deficit was a 57% year-on-year increase in total imports to $7.3 billion.
However, the brokerage house added that total exports and remittances also increased by 20% and 1% year-on-year, respectively.
During November, the balance of trade in goods recorded a 103% increase in deficit year-on-year, while for the services the deficit surged by 408% on a year-on-year basis.
Pakistan exported goods worth $2.71 billion compared to the imports worth $6.42 billion, while the value of exports of services clocked in at $583 million compared to $832 million in November last year.
Last week, SBP Governor Dr Reza Baqir had said that the current account deficit is expected to increase for the next two months and will then decrease gradually.
Baqir had said Pakistan wasn’t heading towards a situation where the interest rate in the country could surge to 13.52%.
“Last time Pakistan faced such a situation was when there was a severe financial crisis in the country when the current account deficit was around $19 billion,” he had explained.

Pakistan’s current account deficit slightly widens to $1.9b in November

Current account deficit widened slightly to $1.91bn in Nov as imports outstripped strong exports, robust remittances, SBP reports.Total exports and remittances increase by 20% and 1% on a year-on-year basis, respectively.SBP Governor says...

www.geo.tv

I doubt a CAD less then 2b$ should be an issue
As in 2017-2018 we were asian targets with CAD of >2b/month..at that time the size of economy imports & exports was also smaller.. So the limit should be around 2.5b$ and we should do fine..
I mean a few IMF bails out isnt big thing..we have been doing since our golden era of 1990-2018(taking out the dark ages of musharraf)
Also geo is mouth peace of PTI
We had no financial crisis in june 2018.. The crisis of sept 2018 was due to poor policies and incompetence of imran khan

 

[Protest_again]

I doubt a CAD less then 2b$ should be an issue
As in 2017-2018 we were asian targets with CAD of >2b/month..at that time the size of economy imports & exports was also smaller.. So the limit should be around 2.5b$ and we should do fine..
I mean a few IMF bails out isnt big thing..we have been doing since our golden era of 1990-2018(taking out the dark ages of musharraf)
Also geo is mouth peace of PTI
We had no financial crisis in june 2018.. The crisis of sept 2018 was due to poor policies and incompetence of imran khan

How long are you going to keep saying about 2018? Imran came saying give me 3 months, I have a team to solve this crisis. Its three years, people like you are still yapping about past crisis. sigh.

 

[Maula Jatt]

How long are you going to keep saying about 2018? Imran came saying give me 3 months, I have a team to solve this crisis. Its three years, people like you are still yapping about past crisis. sigh.

Why do you care?

 

[Shah_Deu]

How long are you going to keep saying about 2018? Imran came saying give me 3 months, I have a team to solve this crisis. Its three years, people like you are still yapping about past crisis. sigh.

Blaming a past government 3 years ago is nothing more than a blip considering Modi and RSS are still blaming 100-year old policies of Gandhi, 300-years old British occupation and 1000-year old conquests for all the evils in the lala-land.

 

[The Accountant]

How long are you going to keep saying about 2018? Imran came saying give me 3 months, I have a team to solve this crisis. Its three years, people like you are still yapping about past crisis. sigh.

Do u have any idea about world supply chain crisis and commodity prices and shipping rates ?

This is happening internationally ...

Usa broke 40 years inflation record ...

Turky is in hyper inflation ...

This is a world wode supply chain crisis expected to be start settling from march onwards

 

[Enigma SIG]

How long are you going to keep saying about 2018? Imran came saying give me 3 months, I have a team to solve this crisis. Its three years, people like you are still yapping about past crisis. sigh.

So IK was to solve filth of past 3 decades in 3 years?

Wah Modi wah!

 

[Imran Khan]

So IK was to solve filth of past 3 decades in 3 years?

Wah Modi wah!

solve kary na kary or to na bardhay bhai

 

[Enigma SIG]

solve kary na kary or to na bardhay bhai

There are things you can control then there's things you don't.

 

[lcloo]

Pakistan need to be bold in changing its economy with long term economic plans. But first you have to build up a solid foundation in the following:-

1) Education and vocational trainings for all levels of professions, to produce skilled & literate workers, managers and entrepreneurs etc.
2) Business friendly taxation and ease of doing business, and government incentive for export oriented businesses.
3) Efficient power supply and good nationwide transportation system including raiway, highway, airports and sea ports.
4) You will need to build up local supply chains with both SME (Small & Medium Enterprises) and large local and multi-national companies.

And most importantly, you need a politically stable environment so as not to discourage foreign investments (FDI). Also you need a time frame of 15 to 20 years to see the results with hardworks.

 

[ziaulislam]

Do u have any idea about world supply chain crisis and commodity prices and shipping rates ?

This is happening internationally ...

Usa broke 40 years inflation record ...

Turky is in hyper inflation ...

This is a world wode supply chain crisis expected to be start settling from march onwards

i dont care, i want petrol cheaper then saudi arabia. nahil IK, why did he promise in jalsas then..
had i know IK will not bring free petrol i would have voted for nawaz sharif, atleast i know how much he eats from us..

 

[Imran Khan]

There are things you can control then there's things you don't.

then why he promised nation before elections ? a common pakistani need bread and butter in daily life . he dont care these statics .

 

[Maula Jatt]

then why he promised nation before elections ? a common pakistani need bread and butter in daily life . he dont care these statics .

That's why Pakistan is where it's at

 

[Imran Khan]

That's why Pakistan is where it's at

so where it should be ? how many people in india /brazil/indonesia understand these statics ? you want them to be economists ? even we are messed up still you guys are not owning the mess . man 71 years dollar reached 110 and 3 years its 181 now . for hell sake even his intentions are right he is unable to control mess . he is living in imaginary world of riayasat e madina someone go chop his head like riyasat e madina ?

 

[313ghazi]

Why do you care?

My father told me a story that Satan one day came to a bazaar and took the form of an old man. He then approached a stall, took some ghur, and applied it to a pillar or a wall. The ghur attracted flies, a nearby cat noticed the flies and started trying to bat them away, a nearby dog saw the cat and started chasing after the cat. The owner of the cat rushed to his cats defence, and the owner of the dog rushed to defend his dog. The two men started fighting amongst themselves and their friends got involved too.

Someone was watching all this and blamed the old man. He asked him "why did you do all this?!", the old man responded "I didn't do anything, I just applied a little ghur".

-------

So to answer your question, e ghur laneh aya.