Pakistan’s current account recorded a $112 million deficit in October 2025, reversing the $83 million surplus posted in September 2025 and a much larger $296 million surplus in October 2024, according to State Bank of Pakistan (SBP) data released on November 17, 2025.
The swing was driven by a sharp rise in imports and softer exports. Total imports surged 13% year-on-year to $6.32 billion from $5.58 billion, while exports fell nearly 4% to $3.57 billion compared to $3.71 billion last year.
Current Account Balance recorded a deficit of $112 million in October 2025 compared to a surplus of $83 million in September 2025.https://t.co/q3LNv3HOB0https://t.co/fMcRUupUIA#SBPBOP pic.twitter.com/8eG3Q8o7t9
— SBP (@StateBank_Pak) November 17, 2025
On a positive note, workers’ remittances jumped 12% to a robust $3.42 billion from $3.05 billion in October 2024, once again acting as a lifeline for the external account.“Remittances continue to offset the trade deficit and remain critical as external pressures mount,” said Waqas Ghani, Head of Research at JS Global.
For the first four months of FY26 (July-Oct 2025), the current account deficit widened sharply to $733 million – a 256% increase from $206 million in the same period last year.
Despite the deficit, Pakistan’s foreign exchange reserves (ex-CRR/SCRR) rose 29% year-on-year to $14.50 billion, offering stronger buffers against external shocks.
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