Pakistan records $356m current-account deficit in September

Pakistan recorded a current-account deficit of $356 million in September 2026, according to State Bank of Pakistan data released on Friday. The result reversed a surplus of $133 million reported in September last year and was wider than the revised $73 million deficit recorded in August.

The current account tracks Pakistan’s transactions with the rest of the world, including trade in goods and services, workers’ remittances and income flows. A deficit means that, for the period measured, outflows exceeded inflows through these channels.

The September outcome came as imports of goods and services rose more quickly than exports. Total exports were reported at $3.95 billion, up from $3.42 billion in September 2025, while imports reached $7.38 billion, compared with $5.99 billion a year earlier.

Workers’ remittances provided a sizeable inflow during the month, reaching $3.59 billion. That was nearly 13 per cent above the $3.18 billion recorded in September last year, but it did not offset the wider trade gap reflected in the monthly external-account data.

For the first three months of fiscal year 2026-27, the current-account deficit stood at $874 million, compared with $755 million in the corresponding period of the previous fiscal year. The increase was about 16 per cent on the figures reported by the central bank.

The monthly data matter because Pakistan relies on foreign-currency inflows to pay for imports and meet external obligations. The September release shows export and remittance receipts increased year on year, but import payments expanded faster, leaving the country with a monthly current-account shortfall.