Thursday , January 21 2021
Breaking News
Home / Breaking News / Current account deficit shrinks 78pc to $2.966b in FY20
Current account deficit shrinks 78pc to $2.966b in FY20

Current account deficit shrinks 78pc to $2.966b in FY20

ISLAMABAD: The Current Account Deficit of the country contracted by 78 percent to $2.966 billion in fiscal year 2019-20 (Jul-Jun) compared to $13.434 billion in same period of the preceding year (2018-19).

On monthly and yearly basis, the current account deficit also witnessed a record fall of 90.2 percent and 72 percent in June this year when compared to the current deficit in June 2019 and May 2020.

According to data released by the current account deficit in June, 2020 declined to $96 million from $344 million in May 2020 and $981 million in June 2019.

The current account balance without official transfers also declined to $3.433 billion in Fiscal year 2019-20 compared to $14,17 billion in the year 2018-29.

Further the data added that balance of trade in the country decreased to $19.9 billion in the year 2019-20 from $27.6 billion in the preceding year.

Similarly balance of trade in goods and services declined from $32.58 billion in the year 2018-29 to $22.749 billion in fiscal year 2019-20.