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Current account deficit narrows by 91% as remittances, exports outpace imports

Exports rose 21% year-on-year to $2.762 billion, while total imports fell 7% to $4.346 billion Representational image of containers being placed in a port. — Reuters/File Exports rose 21% year-on-year in October. The deficit narrows to $74 million in the same month. Overseas Pakistanis remitted $2.463 billion. KARACHI: Pakistan’s current account deficit narrowed by 91% in October from a year ago as remittances from overseas Pakistanis, lower imports and improved exports boosted the country’s external balance, The news it said on Tuesday citing State Bank of Pakistan (SBP) data. According to the data, the country’s deficit narrowed to $74 million