Pakistan posts $112 million current account deficit in October as imports jump 13%

Pakistan recorded a current account deficit of $112 million in October 2025, reversing the $83 million surplus reported in September, data released by the State Bank of Pakistan (SBP) showed on Monday. 

The country had posted a surplus of $296 million in October 2024.

The return to deficit was driven by a higher import bill and lower exports. Pakistan’s total exports of goods and services amounted to $3.57 billion in October 2025, a decline of nearly 4% from $3.71 billion recorded in the same month last year. Imports rose sharply to $6.32 billion, up more than 13% from $5.58 billion a year earlier.

Workers’ remittances provided some support, rising 12% to $3.42 billion in October from $3.05 billion in the same month last year.

Over the first four months of FY26, the current account deficit widened to $733 million, compared to $206 million in the same period last year — an increase of 256%.

Despite the growing external gap, Pakistan’s foreign exchange reserves excluding CRR/SCRR increased to $14.50 billion, reflecting a 29% rise year-on-year, indicating some strengthening in reserve buffers even as structural pressures persist.