Current Account Deficit Worsens in 3 Months

Pakistan's current account deficit increased by 16% year-on-year to $874 million in the first quarter of fiscal year 2026-27, as reported by the State Bank of Pakistan (SBP). This is a significant rise from $755 million in the same period last year. The deficit expanded to $356 million in September 2026, in contrast to a surplus of $133 million in September 2025.

Topline Securities attributed the September deterioration to an 8% increase in exports, reaching $3 billion, while imports surged by 13% month-on-month to $6.2 billion. Imports rose 14% year-on-year to $17.8 billion, and exports grew 8% to $8.4 billion compared to the previous year. The more rapid growth in imports compared to exports led to the increased deficit.