In a remarkable economic milestone, Pakistan recorded an unprecedented current account surplus of $1.2 billion in March 2025, according to data unveiled by the State Bank of Pakistan (SBP) on Thursday. This achievement marks a dramatic shift from the revised $97 million deficit reported in February 2025 and represents a staggering 230% increase from the $363 million surplus seen in March 2024.
Leading financial analysts have hailed this as Pakistan’s largest-ever monthly current account surplus, a testament to the nation’s improving economic fundamentals. The surplus has propelled the cumulative current account balance for the first nine months of the fiscal year 2024–25 to $1.86 billion, a stark contrast to the $1.65 billion deficit recorded during the same period in the prior fiscal year.
“This historic surplus reflects a combination of robust remittance inflows, controlled imports, and steady export growth,” said a senior economic analyst at a Karachi-based brokerage firm. “With global oil prices remaining subdued and remittances soaring, Pakistan’s external account is poised for sustained stability, potentially extending into the next fiscal year.”
Key drivers behind this turnaround include a significant surge in workers’ remittances, which skyrocketed to $4.05 billion in March 2025, reflecting a remarkable 71% year-on-year increase. Exports of goods and services surged 8.7%, reaching $3.51 billion, up from $3.23 billion in March 2024, boosting economic growth.Meanwhile, imports grew at a slightly slower pace of 8%, reaching $5.92 billion.
Government economic advisors are optimistic about the positive trajectory of the economy. “The external sector’s strength is boosting investor confidence,” noted a financial advisor to the Finance Ministry. “Factors like record-high remittances and favorable global commodity prices are creating a solid foundation for economic resilience.”
Analysts attribute the surplus to a mix of structural and policy-driven factors, including restrained economic growth, elevated inflation, stringent monetary measures, and targeted import controls. These efforts have collectively narrowed the current account gap while fostering export competitiveness.
As Pakistan navigates a complex economic landscape, this historic surplus signals a brighter outlook for its external accounts, offering hope for sustained stability and growth in the months ahead.
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