KARACHI: Pakistan’s current account deficit (CAD) increased by 3.5% MoM during November 2018 to $1.255 billion (5.2% of GDP).
A sharp 19.6% MoM drop in workers’ remittances was the major factor for the rise in CAD.
On a positive note, the trade deficit declined by 10.6% MoM as imports dropped by 9.4% MoM, countering the 8.0% MoM reduction in exports.
Although there were $1.0 billion inflows in November from Saudi Arabia, this was offset by the CAD readings for the month.