Pakistan’s current account deficit widened 16 percent year-on-year (YoY) to $874 million in the first quarter of fiscal year 2026-27, compared with $755 million in the same period last year, according to the latest data from the State Bank of Pakistan (SBP).
The deficit reached $356 million in September 2026, compared with a current account surplus of $133 million in September 2025.
According to Topline Securities, the September deterioration was mainly driven by a $148 million month-on-month (MoM) increase in the goods trade deficit to $3.2 billion, as imports rose faster than exports.
Imports increased 13 percent MoM to $6.2 billion, while exports rose 23 percent to $3 billion.
During the first quarter of FY2026-27, imports totaled $17.8 billion, up 14 percent from $15.5 billion in the same period last year.
Exports increased 8 percent to $8.4 billion during the quarter, compared with $7.8 billion a year earlier.
The faster growth in imports than exports contributed to the higher deficit.
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