KARACHI: Pakistan recorded its highest-ever monthly current account surplus in March, with a surplus of $1.195 billion compared to $363 million in the same month last year, the State Bank data showed on Thursday.

The March surplus accounted for the largest share of the $1.859bn total surplus posted during the July-March period of the ongoing fiscal year.

The previous month also witnessed a historic inflow of remittances, which reached $4.1bn. The surge has prompted the SBP to raise its annual remittance target from $35bn to $38bn for FY25.

Despite the SBP governor’s assertion that import restrictions have been lif­ted, imports of goods during the nine-month period rose modestly to $43.39bn from $39.06bn a year earlier — an increase of just $4.33bn. Exports of goods also increased by $1.77bn, reaching $24.66bn in the same period.

Therefore, the trade deficit in goods and services widened to $21.05bn in July-March FY25 compared to $18.36bn in........

© Dawn Business