Pakistan’s current account recorded a strong surplus of $1.07 billion in March 2026, according to Pakistan Bureau of Statistics (PBS) data. This was sharply higher than the $231 million surplus in February and marked the third consecutive monthly surplus this year. The figure stands as the second-highest monthly surplus on record, behind only March 2025.
Second-Highest Monthly Surplus on Record
The March outcome reflects sustained improvement in the external sector. Adviser to the Finance Minister Khurram Schehzad described it as among the strongest monthly results in years. He noted that sustained surpluses signal improving balance of payments stability.
The large surplus helped turn the overall position for the first nine months of FY26 into positive territory. The current account showed a surplus of $174 million for July-March FY26, compared with a deficit of $896 million in the first eight months.
External Position Firms Up
A significant reduction in the goods and services deficit, combined with higher remittances, supported the monthly gain. The improvement eases pressure on external financing needs and supports efforts to build forex reserves.
The Real Effective Exchange Rate strengthened to 105.17 in March, a 7.5-year high. This indicates relative strength in the currency’s real value against trading partners. Saudi Arabia disbursed $2 billion in deposits to the SBP, with an additional $3 billion committed. The existing $5 billion deposit was also extended for three years, providing further cushion to the external account.
These developments reduce vulnerability to external shocks and create more room for policy focus on growth and investment climate.