Pakistan’s Current Account Surplus Drops 99% to $8 Million in 9MFY26

Pakistan’s current account surplus has sharply declined by approximately 99 percent to just $8 million during the first nine months of fiscal year 2026 (9MFY26), compared to $1,674 million recorded in the same period last year, according to data released by the State Bank of Pakistan (SBP).

Despite some monthly improvements, the overall trend remains weak, highlighting persistent pressure on the country’s external account. In March 2026, Pakistan recorded a current account surplus of $1,070 million, showing a significant increase from $231 million in February 2026. However, this figure was still lower compared to the $1,275 million surplus recorded in March 2025.

The cumulative performance for 9MFY26 paints a concerning picture, as the marginal surplus of $8 million reflects a steep decline from the previous year’s strong position. Analysts suggest that fluctuating inflows, rising imports, and external payment obligations have contributed to the weakening trend.

While the March figures indicate short-term improvement, the broader data underscores ongoing vulnerabilities in Pakistan’s external sector, raising concerns about sustainability in the coming months.