Pakistan recorded a current account surplus of $121 million in January 2026, according to the latest data released by the State Bank of Pakistan (SBP).
This marks a significant improvement compared to January 2025, when the current account posted a deficit of $393 million. In December 2025, the country had also recorded a deficit of $265 million.
However, on a cumulative basis, the current account remained in deficit during the first seven months of FY26. From July to January, the deficit stood at $1.074 billion. In contrast, the same period last year had recorded a surplus of $564 million.
On the trade front, exports showed moderate growth in January. They rose by 3.5 percent year-on-year to $3 billion, up from $2.9 billion in January last year. Despite this monthly increase, total exports during the first seven months of FY26 declined by 7.1 percent to $18.1 billion.
Imports, on the other hand, edged down slightly in January, falling by 1 percent year-on-year to $5.8 billion compared to $5.9 billion in the same month last year. Over the July–January period, however, imports increased sharply by 9.5 percent to $22 billion.
The surplus in January reflects short-term improvement in external balances, though the overall fiscal-year trend continues to show pressure from rising imports and weaker cumulative exports.
