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File information Description Source: Trading Economics, "Pakistan Current Account"; itself based on data from the State Bank of Pakistan (SBP).
The current account balance is one of two major measures of a country's foreign trade (the other being the net capital outflow). A current account surplus indicates that the value of a country's net foreign assets (i.e. assets less liabilities) grew over the period in question, and a current account deficit indicates that it shrank. Both ...
World map by current account balance (% of GDP), 2023, according to World Bank [1]. This is the list of countries by current account balance, expressed in current U.S. dollars and as percentage of GDP, based on the data published by World Bank, United Nations Conference on Trade and Development and Organisation for Economic Co-operation and Development.
The Pakistani rupee depreciated against the US dollar until around the start of the 21st century, when Pakistan's large current-account surplus pushed the value of the rupee up versus the dollar. Pakistan's central bank then stabilized by lowering interest rates and buying dollars, in order to preserve the country's export competitiveness.
At the end of March 2022, the State Bank of Pakistan's reserves stood at $11.425bn, but they gradually tanked to an almost four-year low of $6.715bn on 2 December. Pakistan's foreign exchange reserves equal to just five weeks of merchandise imports. [44] The consistent depreciation of the rupee is said to be deepening the economic crisis. [45]
Key takeaways. Check your balance online, on the phone, through your bank's mobile app, at the ATM and with bank statements. A bank teller can provide account details in person.
Besides they are posted in Trade Missions Abroad as Trade and Investment Attaches (BS 18), Trade and Investment Counselors (BS 19), Trade Minister/Counsel General (BS 20/21), and Ambassador to the WTO (BS 21). CTG officers negotiate bilateral, multilateral and unilateral trade deals with the trade partners of Pakistan.
The bank noted, "In contrast to the previous five years, the current account has remained in surplus throughout FY21, due to an improved trade balance and a continued increase in remittances." Khan described it as a "Remarkable turnaround despite Covid," adding that Pakistan's foreign reserves hit a 3-year high of $13 billion.