Karachi – Pakistan’s current account registered a surplus of $479 million in February, marking a significant shift and contributing to a substantial decrease in the country’s overall current account deficit for the fiscal year, according to data released by the State Bank of Pakistan (SBP) on Monday.
This surplus follows a $85 million surplus recorded in January, reversing a trend of deficits experienced in the earlier part of the fiscal year. In the first two months of 2026, the current account has been in positive territory, a contrast to the $244 million deficit recorded in December 2025.
Still, the improvement comes after the first two quarters of fiscal year 2026 saw deficits of $737 million (July-September 2025) and $458 million (October-December 2025), respectively. In fiscal year 2025, the current account had recorded a surplus of $1.9 billion.
The current account deficit, a long-standing concern for Pakistan’s economy, has been addressed primarily through a reduction in imports. However, this reduction in imports has had a dampening effect on the country’s gross domestic product (GDP) growth, which reached approximately 3 percent in fiscal year 2025.
Data from the SBP indicates that imports of goods increased by $3.38 billion, reaching $41.823 billion between July and February, compared to $36.433 billion during the same period of the previous fiscal year. Both exports and imports of services also saw increases, rising by $1 billion and $1.1 billion, respectively.
The State Bank of Pakistan’s summer internship program for 2026 is currently underway, with applications accepted until March 2, 2026. The six-week program, running from June 29 to August 7, 2026, is open to students enrolled in Master’s programs or who have completed at least two years of a four-year Bachelor’s degree. Eligible candidates must achieve a minimum of 70% marks or a CGPA of 3.00 out of 4.00. Shortlisted applicants will be contacted by March 27, 2026, to submit supporting documentation.
Financial experts caution that sustaining this positive trend may prove difficult. The international price of oil has risen by approximately 80 percent and could increase further if the ongoing conflict in the Middle East continues. The SBP data released Monday does not yet fully reflect the potential impact of the conflict, which began on February 28.
