Pakistan’s current account posts $244mn deficit in December 2025

Pakistan’s current account posted a deficit of $244 million in December 2025, data released by the State Bank of Pakistan (SBP) showed on Monday.

The deficit follows a surplus of $98 million recorded in November 2025, which was originally reported to be at $100 million, and a surplus of $454 million in December 2024.

The deficit came on the back of a significantly higher import bill during the month.

In December 2025, the country’s total export of goods and services amounted to $3.69 billion, up nearly 20% as compared to $3.08 billion in the previous month.

Meanwhile, total imports totalled $7.04 billion in December 2025, a decrease of nearly 24%, compared to $5.69 billion in November 2025, according to SBP data.

During December 2025, Pakistan’s workers’ remittance inflows totalled $3.59 billion, compared to $3.19 billion in November 2025, representing a 13% increase on a monthly basis.

During the H1FY26, the current account recorded a cumulative deficit of $1,174 million, as compared to a surplus of $957 million in the same period last year.

“The deficit comes mainly because of a sharp widening in the goods trade gap,” Saad Hanif, Head of Research at Ismail Iqbal Securities, told Business Recorder.

He added that higher imports, weaker exports and deterioration in services balance “outweighed still-strong remittance inflows, reversing November’s surplus”.

Pakistan’s foreign exchange reserves (excluding CRR/SCRR) rose to $16.19 billion, reflecting a substantial 36% rise year-on-year, indicating stronger external buffers despite ongoing structural pressures on the current account.