### Summary
The current account deficit in Pakistan reduced by 36% in July FY24 compared to the previous year, but July saw a deficit for the first time in four months.
### Facts
- 💸 The current account deficit decreased by 36% to $809 million in July FY24.
- 💰 July's current account was in deficit for the first time in four months, with June having a surplus of $504 million.
- 📉 FY23 successfully reduced the current account deficit to $2.387 billion from $17.481 billion in FY22.
- 🌍 The large current account deficit in FY23 led to a risk of sovereign default, which was addressed with assistance from the IMF, Saudi Arabia, and the UAE.
- 📉 Goods exports in July decreased by $101 million, while goods imports rose by 23.5% to $4.220 billion.
- 💼 Pakistan's services imports were $811 million, higher than services exports of $538 million in July, resulting in a net decline of $273 million.
- 📉 The trade deficit in FY23 reduced by 42.9% to $27.59 billion.
Source: [Dawn](https://www.dawn.com/news/1651754/)
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