Pakistan posted a record current account surplus of $1.2 billion in March 2025, a sharp turnaround from a revised deficit of $97 million in February, according to data released by the State Bank of Pakistan (SBP) on Thursday.
Compared to March 2024, when the surplus stood at $363 million, this represents a massive 230% year-on-year increase.
Brokerage firms Topline Securities and Arif Habib Limited noted that March 2025 marked the largest monthly current account surplus in Pakistan’s history.
This strong performance has pushed the cumulative surplus for the first nine months of fiscal year 2024–25 to $1.86 billion, a significant recovery from the $1.65 billion deficit recorded during the same period last year.
“With lower oil prices and record-high remittances, the current account is likely to stay in surplus through the end of FY25, and potentially into FY26, boosting investor confidence,” said Khurram Schehzad, Advisor to the Finance Minister.
Exports of goods and services reached $3.51 billion in March, up 8.7% from $3.23 billion in March 2024. Imports rose 8% year-on-year to $5.92 billion.
A major contributor to the improved current account was a sharp rise in workers’ remittances, which soared over 71% to $4.05 billion in March.
Analysts attribute the improved figures to a combination of low economic growth, high inflation, tight monetary policy, import restrictions, and stronger export performance—all helping to narrow the current account deficit.
