Key Takeaways
- Pakistan recorded a marginal current account deficit of $139 million in FY26.
- Imports increased by 8.5% to $76.39 billion, outpacing exports growth.
- Workers’ remittances hit a record high of $41.59 billion but failed to offset the trade gap.
Pakistan’s current account recorded a marginal deficit of $139 million in fiscal year 2026 (FY26), marking a reversal from the previous fiscal year, which saw a surplus of $1.84 billion. Despite record workers’ remittances, Pakistan's external position was pushed into negative due to high imports and stagnant exports.
The State Bank of Pakistan (SBP) released these figures on Friday, highlighting that while exports of goods and services increased by just 0.5% to $40.88 billion in FY26 from the previous year’s $40.79 billion, imports surged by nearly 8.5% to $76.39 billion from $70.43 billion a year earlier.
Workers’ remittances reached an unprecedented level of $41.59 billion in FY26, up 8.6% from the previous fiscal year’s $38.3 billion. This significant inflow provided crucial support to Pakistan's external position despite the widening trade gap. However, the SBP Governor Jameel Ahmad projected a balanced or slightly surplus current account for the second consecutive fiscal year.
On a monthly basis, in June 2026, Pakistan posted a current account deficit of $649 million compared with a surplus of $500 million in May 2026. The country had recorded a current account surplus of $220 million in the same month last year. Exports during June 2026 stood at $3.55 billion, up from $3.2 billion in May but down from $3.3 billion in June 2025.
Imports for the same period increased to $7.08 billion from $6.42 billion in May and $5.92 billion in June 2025. Workers’ remittances were at $3.48 billion, easing slightly from the record $4.25 billion received in May but remaining close to the $3.4 billion seen in June 2025.
The SBP’s reserves stood at $18.5 billion at the end of FY26, up from around $14.64 billion a year earlier, reflecting improved macroeconomic stability and stronger external buffers.
