Overview
- September’s surplus marks a sharp swing from August’s $325 million deficit and a $52 million gap in September 2024.
- Remittances reached $3.18 billion in September, up 11% year on year, as exports rose to $3.43 billion and imports to $6.02 billion.
- Despite the monthly respite, the current account ran a $594 million deficit in FY26’s first quarter versus $502 million a year earlier.
- Observers cite high interest rates, import restrictions and weak domestic demand as restraining factors, with risk of a rebound in imports if policy eases.
- SBP data also show record monthly IT exports of $366 million and central bank reserves at $14.28 billion by end-September.