Remittances rose by 7 per cent from July to August, reaching $6.35 billion, according to a report that surfaced on Tuesday.
According to details, exports increased by 10.2 per cent, reaching $5.28 billion, while imports rose by 0.8 per cent to $10.4 billion. The report said the current account deficit narrowed to $620 million during the two-month period. Foreign direct investment increased by 22 per cent to $364.3 million.
Reserves held by the State Bank of Pakistan (SBP) rose from $9.5 billion to $14.4 billion. According to the Ministry of Finance, remittances, exports and foreign investment all increased. Foreign exchange reserves showed a notable rise, while the current account deficit declined.
An increase was also recorded in both tax and non-tax revenue. The primary balance remained in surplus at Rs228.9 billion.
