Pakistan records $2.1bn current account surplus after 14 years

• First annual surplus in 14 years, driven by remittances.
• Textile and IT exports rose 7.4% and 18%, respectively.
• Remittances hit record $3.4bn in June, fueling surplus boost.  

Pakistan posted a full-year current account surplus of $2.1 billion in fiscal year 2024–25, reversing a $2.07 billion deficit in FY24 — its first surplus in 14 years, the State Bank of Pakistan (SBP) confirmed on Friday.

In a statement on X, the central bank said: "Current account balance recorded a surplus of $2.1 billion during FY25 compared to a deficit of $2.1 billion during FY24."

Meanwhile, the country’s current account registered a surplus of $328 million in June 2025, against a deficit of $84 million last month and a deficit of $500 million in June 2024.

Khurram Schehzad, adviser to the finance ministry, also shared the data on X, highlighting a $328 million current account surplus in June 2025.

“Country’s Current Account (CA) for June 2025 closes in $328Mn Surplus, taking full-year Surplus to over $2.1Bn — annual Surplus recorded after 14 years, and the largest Surplus in 22 years,” the adviser wrote on X.

He said textile exports rose by 7.4% year-on-year to $17.9 billion, foreign direct investment increased 5% to $2.5 billion, and remittances surged 27% to a record $38 billion.

According to Topline Securities, the FY25 current account surplus of $2.1 billion (0.5% of GDP) marks a sharp turnaround from a $2 billion deficit in FY24, driven by a 27% increase in remittances and a 16% drop in services deficit. The goods deficit, however, grew to $27 billion.

Topline added that the surplus was bolstered by record-high March remittances of over $4 billion and structural reforms that reduced the exchange rate differential between official and informal channels.

"The remittances witnessed growth of 27% YoY to $38.3 billion owing to higher incentive offered to financial institutions to facilitate remittances through formal channels, increase in manpower exports, and reduced differential of exchange between official/unofficial market which encourages routing through formal channel," it added.

The brokerage house expects a mild current account deficit of $0.5–1.5 billion (0.1–0.3 percent of GDP) in FY26.

Meanwhile, Pakistan Bureau of Statistics (PBS) reported a 7.39% increase in textile exports during the financial year 2024-25 compared to the previous year 2023-24. Textile exports reached $17.89 billion, up from $16.66 billion last year.

The country also registered monthly Information Technology (IT) exports of $338 million in June 2025, up 14% year-on-year and 3% month-on-month.

The IT exports in June 2025 were higher than the 12-month average of $314 million, Topline Securities noted in a report. This brings Pakistan’s total IT exports for FY25 to $3.8 billion, an 18% increase compared to $3.2 billion in FY24.