Pakistan’s current account took a notable hit this month. The State Bank of Pakistan (SBP) just officially released new data regarding the country’s balance of payments. Pakistan posted a current account deficit of $356 million in September 2026.
This latest figure shows a sharp short-term increase. Specifically, it follows a much smaller deficit of $73 million recorded in August 2026. Furthermore, it marks a stark contrast to the $133 million surplus seen exactly a year ago in September 2025.
Why did the deficit widen so rapidly? The answer lies heavily in trade imbalances. During September 2026, Pakistan faced a significantly higher import bill. Meanwhile, exports managed only a marginal increase.
Total imports clocked in at $7.38 billion during the month. Consequently, this represents an increase of over 23% on a yearly basis. Conversely, total exports of goods and services amounted to $3.95 billion. As a result, exports grew by just over 15% compared to the previous year.
| Trade Metric (September) | 2025 Figures | 2026 Figures | Yearly Change |
| Total Imports | $5.99 Billion | $7.38 Billion | Up by 23% |
| Total Exports | $3.42 Billion | $3.95 Billion | Up by 15% |
Despite the growing trade gap, overseas workers continue to send money home at a steady pace. During September 2026, Pakistan’s workers’ remittance inflows reached $3.59 billion. Therefore, remittances reflect an increase of nearly 13% on a yearly basis, climbing from $3.18 billion in September 2025.
Looking at the broader fiscal year paints a consistent picture. During the first quarter of the current fiscal year (3MFY27), the Pakistan current account recorded a cumulative deficit of $874 million. Comparatively, the same period last fiscal year saw a deficit of $755 million. Ultimately, this reflects a 16% increase in the quarterly deficit.
SBP officially confirmed these numbers today via an X post and its official data portal.
Current Account Balance recorded a deficit of $356 million in Sep 2026 compared to a deficit of $73 million in Aug 2026.
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#SBPBOP https://t.co/xl02J4jFYN— SBP (@StateBank_Pak) October 16, 2026