Pakistan Records Growth in Remittances, Exports, and Imports for FY 2024-25
Pakistan has witnessed significant economic growth in the first seven months of the fiscal year 2024-25, with a marked increase in remittances, exports, and imports. From July 2024 to January 2025, remittances rose by 25.2%, exports grew by 9.7%, and imports increased by 16.8%.
According to the Ministry of Finance’s monthly economic outlook report, Pakistan’s current account recorded a surplus, while foreign investments also saw an uptick. The country’s foreign exchange reserves held by the State Bank grew from $8 billion to over $11.2 billion, and the rupee’s value stabilized during this period.
The report highlighted a current account surplus of over $680 million from July to January, compared to the previous deficit, and a boost in foreign investment.
Additionally, the Federal Board of Revenue (FBR) saw a 26.2% increase in tax revenue from July to December 2024. Non-tax revenue surged by 82% during the same period, and the fiscal deficit decreased by 36.1%. Inflation, which had been 28.7%, dropped to 6.5% by January 2025.
In another notable development, over 63,000 Pakistanis left for overseas employment in January 2025, indicating a rising trend in international job opportunities for the workforce.
