Pakistan posts $328m current account deficit in July

Mettis Global reported that Pakistan's current account ran a deficit of $328 million in July 2026, citing the State Bank of Pakistan's latest balance of payments release. Excluding official transfers, the gap was wider at $384 million, suggesting official inflows cushioned the external position that month. In June the deficit had reached $814 million, while May had posted a $500 million surplus.

The goods trade gap drove the result. Merchandise exports climbed to $3.01 billion from $2.75 billion a year earlier, while imports rose to $6.15 billion from $5.43 billion, leaving a goods deficit of $3.15 billion. Services ran a $228 million deficit, and primary income was negative by $848 million, which lifted the combined shortfall across those three accounts to $4.22 billion.

Secondary income offset much of that gap, with workers' remittances of $3.63 billion and other transfers of $252 million producing a net surplus of $3.89 billion. Export growth reached 9.4% year on year against 13.4% for imports, so the faster rise in purchases from abroad continued to press on the external account as FY27 began. Gross SBP reserves were $18.34 billion in July, and the overall balance of payments registered a $1.39 billion surplus.