KARACHI: Pakistan’s current account deficit widened nearly fivefold to $356 million in September from $73 million in August, the central bank said on Friday, as rising imports outpaced growth in exports and remittances, putting renewed pressure on the country’s external finances.

The deterioration marks a reversal from a $133 million surplus in September last year and comes after Pakistan recorded several monthly surpluses earlier in 2026. A widening trade gap could raise concerns about the sustainability of the country’s external balance despite strong remittance inflows.

“Current Account Balance recorded a deficit of $356 million in Sep 2026 compared to a deficit of $73 million in Aug 2026,” the State Bank of Pakistan (SBP) said in a social media post on X.

The current account measures a country’s trade in goods and services, along with income and transfers from abroad, including workers’ remittances. A deficit indicates that foreign exchange outflows exceed inflows from these transactions, increasing the country’s need for external financing.

According to the SBP’s accompanying chart, Pakistan recorded a current account surplus of around $1.17 billion in March, followed by a deficit of approximately $340 million in April and another surplus of around $420 million in May.

The balance subsequently deteriorated, with the country recording a deficit of around $840 million in June and $450 million in July, before narrowing to approximately $70 million in August.

The latest figures put Pakistan’s cumulative current account deficit at around $870 million in the July-September quarter, compared with approximately $760 million during the same period last year.

Pakistan has been working to stabilize its external accounts under a $7 billion International Monetary Fund program, with the current account balance remaining a key indicator of the country’s ability to manage its foreign exchange requirements.