ISLAMABAD — Pakistan’s current account registered a deficit of $112 million in October 2025, reversing the surplus of $83 million recorded in September 2025, according to data released by the State Bank of Pakistan (SBP) on Monday. The figure also contrasts sharply with a surplus of $296 million in October 2024.
The deficit came amid higher import bills and a slowdown in exports. In October 2025, total exports of goods and services reached $3.57 billion, down nearly 4% compared to $3.71 billion in the same month last year. Meanwhile, imports surged to $6.32 billion, a year-on-year increase of over 13%, compared to $5.58 billion in October 2024.
Workers’ remittances continued to provide a stabilising effect, recording $3.42 billion for October 2025 a 12% increase from $3.05 billion in the same month last year. Analysts note that remittances remain crucial in offsetting the trade deficit and supporting external stability amid rising domestic demand and import pressures.
During the first four months of FY26, Pakistan’s current account posted a cumulative deficit of $733 million, up 256% from $206 million in the same period last year. Despite these pressures, foreign exchange reserves (excluding CRR/SCRR) strengthened to $14.50 billion, reflecting a 29% increase year-on-year, providing a buffer against ongoing structural challenges.
Waqas Ghani, Head of Research at JS Global, commented, “Pakistan’s external account showed mixed signals in October. The brief surplus in September could not be sustained due to a widening trade deficit, but strong remittance inflows have continued to play a stabilising role, which is becoming even more critical as external pressures resurface.”
