# Pakistan current account deficit widens to $356 million in September as imports rise 23%

Source: Searchable (https://searchable.pk/news/economy/pakistan-current-account-deficit-widens-to-dollar356-million-in-september-as)
Type: News article
Author: Searchable Editorial
Published: 16 Oct 2026
Updated: 16 Oct 2026
Retrieved: 16 Oct 2026

> Remittances climbed 13% to $3.59 billion, but imports grew faster than exports. The first quarter of FY27 closed $874 million in the red, 16% worse than a year ago.

Pakistan's **current account deficit** was **$356 million in September 2026**, according to State Bank of Pakistan data released on Friday and reported by Business Recorder. In September 2025 the account was in surplus by $133 million.

The deficit is almost five times August's, which the SBP revised to $73 million from the $98 million first reported (our [August story](/news/economy/current-account-deficit-shrinks-to-dollar98-million-in-august-as-remittances-hit) carried the earlier figure).

## The September numbers

| | Sept 2026 | Sept 2025 | Change |
|---|---|---|---|
| Exports of goods and services | $3.95bn | $3.42bn | +15% |
| Imports of goods and services | $7.38bn | $5.99bn | +23% |
| Workers' remittances | $3.59bn | $3.18bn | +13% |
| Current account | -$356m | +$133m | |

Exports grew, but imports grew faster and from a much bigger base: the gap between them was about $3.43 billion, some $860 million wider than a year earlier. Remittances of $3.59 billion were still bigger than that gap, so the rest of the deficit came from the account's other lines, such as income paid abroad.

## First quarter of FY27

For July to September (the first quarter of fiscal 2026-27) the deficit adds up to **$874 million**, up 16% from $755 million in the same quarter last year.

## What it means for you

A current account deficit means more dollars are leaving the country for imports and payments than are coming in. Small deficits are manageable while reserves are healthy: total liquid reserves stood at $26.86 billion this week, with the SBP holding $21.47 billion ([our reserves story](/news/economy/pakistans-foreign-exchange-reserves-reach-dollar2686-billion-sbp-holds)). If the gap keeps widening month after month, pressure shows up on the rupee and, eventually, on the price of imported goods and fuel.

For now the rupee is steady. The interbank dollar rate on our [USD to PKR page](/data/usd-pkr) was about Rs 276.91 on Friday, and you can run any amount through the [currency converter](/tools/finance/currency-converter).

One more measure moved the same week: the rupee's real effective exchange rate (REER), which adjusts the rupee against trading partners' currencies for inflation, rose to 108.93 in September from 107.87 in August, an eight-year high, ProPakistani reported citing Topline Securities. A reading above 100 suggests the rupee is on the strong side, which makes imports cheaper and exports harder to sell, one reason analysts watch it alongside the current account.

## What to watch

The SBP releases the October figure in mid-November. Oil prices, which have been volatile with shipping disrupted around the Strait of Hormuz, are the biggest swing factor in Pakistan's import bill.

## Frequently asked questions

**What was Pakistan's current account balance in September 2026?**

A deficit of $356 million, against a surplus of $133 million in September 2025, according to SBP data.

**What is the current account deficit for Q1 FY27?**

$874 million for July to September 2026, up 16% from $755 million a year earlier.

## Sources

- Pakistan posts $356mn current account deficit in Sept 2026 (Business Recorder): https://www.brecorder.com/news/40444553/pakistan-posts-356mn-current-account-deficit-in-sept-2026
- Rupee Index Hits 8-Year High (ProPakistani): https://propakistani.pk/2026/10/16/rupee-index-hits-8-year-high/

How to cite: "Pakistan current account deficit widens to $356 million in September as imports rise 23%", Searchable, 16 Oct 2026, https://searchable.pk/news/economy/pakistan-current-account-deficit-widens-to-dollar356-million-in-september-as