Pakistan

Pakistan Records Current Account Surplus of $582 Million in December 2024, Marking Economic Milestone

Pakistan’s current account surplus reached an impressive $582 million in December 2024, reflecting a 109% increase compared to the previous year. This notable achievement is being attributed to the support from the State Investment Fund Corporation (SIFC) and a rise in remittances.

This marks the fifth consecutive month of surplus in the current account, with the surplus amount for the period from July to December 2024 totaling $1.21 billion. The surplus is being largely driven by an increase in remittances and improvement in the trade balance.

According to statistics, remittances for December 2024 amounted to $3.079 billion, a 29% increase compared to the previous year. Additionally, Pakistan’s exports for the month reached $3.838 billion, showing a 9% year-on-year growth.

The growth in remittances and exports plays a key role in Pakistan’s economic stability, development, and poverty alleviation. The effective policies by the SIFC have contributed significantly to the growth in exports and remittances, marking a new milestone for the country’s current account surplus.

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