Current account posts deficit for second month

Sonya Khan

Minister (2k+ posts)
Patwaris extra active today after a fresh supply of qeema naan was delivered from jati mujrah

Now I endorse your way of answering the patwaris instead of arguing logically....
They only understand this language.....
👏🏼 👏🏼.......
 

Citizen X

Prime Minister (20k+ posts)
Now I endorse your way of answering the patwaris instead of arguing logically....
They only understand this language.....
👏🏼 👏🏼.......
Chalo dair aye darust aye.

I tried this experiment long time ago only to realize it is easier to squeeze blood out of a stone then talk sense with a patwari
 

surfer

Minister (2k+ posts)
KARACHI: The country for the second month in a row posted a current account deficit (CAD) of $229 million in January mainly due to surging imports, which is not a good omen for the government as it is striving to bring the CAD to zero.

On a month-on-month basis, the CAD shrank by 64.87pc from $652m in December 2020.

However, the current account for the first seven months of 2020-21 was still in positive with $921m though the size of the surplus had been declining each month.

The CAD in 7MFY20 was $2.5bn while for the whole FY20 it was recorded at $2.97bn.
The government has succeeded in bringing down the $20 billion CAD in 2018 to surplus this year so far, but the trend indicates that by the end of the FY21 the C/A could be in deficit.

The data showed that the imports have increased while the exports could not improve enough to bridge the trade gap. The data showed that the exports slightly dipped to $13.897bn during 7MFY21 against $14.446bn in the same period of last year.

However, the imports further increased to $27.639bn during 7MFY21 compared to $26.044bn. The balance on trade in goods showed the deficit as $13.742bn during the period under review compared to the deficit of $11.598bn in the same period of last year.

According to the SBP, the balance on trade in goods and services recorded a deficit of $14.875bn compared to the deficit of $13.491bn of last fiscal year.

The government has been providing several incentives to boost exports but the data shows the growth is slow and still less than the previous fiscal year. The textile earns 55 to 60 per cent of exports proceeds for the country but the poor performance of the cotton production badly hit the industry.

The textile millers said the imports of cotton could cost up to $3bn by end of the current fiscal year which means the trade gap would be further widened and ultimately the current account could post deficit. So far the textile millers have imported cotton worth more than a $1bn.

Financial experts said the January deficit was significantly lower than the deficit in December ($652m). If the deficit remains within the range of $200m to $250m per month, the current account deficit could be zero or negligible by the end of the fiscal FY21.

They said if the country comes out from the grey list of FATF both the foreign investment and exports will increase and likely to help the country maintain a current account surplus for the current fiscal year.

Published in Dawn, February 23rd, 2021

Raja bhai. Worry not. The day approaches when.....

https://www.siasat.pk/forums/threads/nawaz-sharif-coming-back-maryum.779316/
 

AZ1

Councller (250+ posts)
The government has succeeded in bringing down the $20 billion CAD in 2018 to surplus this year so far, but the trend indicates that by the end of the FY21 the C/A could be in deficit.
Samj arahi hie uper jo likha hie? nahi tou mei samjhata ho yeh keh raha hie ke nawaz sharif nie jo $20 billion ka deficit gap chora tha 2018 main govt ais year surplus karnay mei kamiyab hogai hie likan trend show kar raha hie ke 21 ke end tak hum phir se could be(ho sakta hei/shayed) deficit main ho saktey hei.

Pata nahi bhai kia khatay ho batein bari bari hei tumhari aur samj qaddu kuch nahi.
 
Last edited:

Ratan

Minister (2k+ posts)

Pakistan's current account deficit declines to $229m in January: Published On 23 February,2021 01:48 pm
Dunyna Business news: Karachi(Web Desk)
Pakistan’s current account deficit has reduced to US$229 million in January 2021 from US$652 million last month and US$512 million in the same month a year ago.
However, during 7MFY21, the current account still showed a surplus of US$912 million compared to a deficit of US$2,544 million in the corresponding period from last year.
According to State Bank of Pakistan (SBP), compared to January 2020, exports grew steadily while remittances continued their record expansion. Imports of wheat and sugar to address domestic shortages, and palm oil, were significantly higher.
Machinery imports continued to grow at double-digits, reflecting economic recovery, the central bank added.

 

Awan S

Minister (2k+ posts)
اگر ٹریڈ بیلنس اتنا ہی برا ہوتا تو انڈیا کی امپورٹ ایکسپورٹ سے دس گنا زیادہ ہیں امریکہ برطانیہ کا بھی یہی حال ہے - کوئی بھی ملک سب کچھ نہیں بنا سکتا زیادہ ملکوں کی امپورٹ ایکسپورٹ سے زیادہ ہیں اور وہ ترقی یافتہ بھی ہیں لیکن کسی نے کبھی شور نہیں مچایا کہ اتنی امپورٹ کیوں ہے - سب ممالک صرف جی ڈی پی پر نظر رکھتے ہیں کیونکے اسی میں ان کی اگریکلچر انڈسٹری سروس سیکٹر آئی ٹی وغیرہ کی ترقی یا تنزلی کوور ہو جاتی ہے - ریڈیو ٹی وی پر جی ڈی پی کا ذکر ہوتا ہے ہر ملک میں کہیں کوئی ٹریڈ بلینس کا ذکر نہیں ہوتا - اس حکومت نے جی ڈی پی تباہ کر دی جو اصل چیز تھی اور ٹریڈ بیلنس کا شور مچا رکھا ہے
 

miafridi

Prime Minister (20k+ posts)
League Supporters and their Pathetic IQ levels. LOLZZZZZ

$20 billion CAD during Nawaz Sharif era was a disaster for Pakistan, not the $1 billion Surplus current account During Imran Khan Govt.
 
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