Pakistan’s current account posted a record surplus of $1.2 billion in March 2025, reversing a revised deficit of $97 million from the previous month, data released by the State Bank of Pakistan (SBP) showed on Thursday.

On a year-on-year basis, the surplus surged 230% from $363 million recorded in March 2024.

According to brokerage firms Topline Securities and Arif Habib Limited, March 2025 marked the “highest-ever monthly current account surplus” in the country’s history.

The robust performance brought the cumulative current account surplus to $1.86 billion during the first nine months of FY2024–25, a sharp turnaround from a $1.65 billion deficit in the same period of the previous fiscal year.

“With oil prices down and remittances hitting record levels, Pakistan’s current account is expected to remain in surplus through June FY25, and possibly into FY26, supporting overall investor confidence,” said Khurram Schehzad, Advisor to the Finance Minister.

Exports of goods and services in March stood at $3.51 billion, up 8.7% from $3.23 billion in the same month last year. Imports rose 8% year-on-year to $5.92 billion.

Workers’ remittances surged to $4.05 billion in March, marking a more than 71% increase from the previous year, a key factor in the current account turnaround.

Analysts say low economic growth, persistently high inflation, tight monetary policy, and import restrictions have all contributed to narrowing the current account deficit, alongside improving exports.