Summary Balance of Payments as per BPM6 - June 2023

(Million US$)
Jul-Jun Jun Jul-Sep Oct-Dec Jan-Mar May Jun Apr-Jun Jul-Jun
Items
FY21 FY22 FY23 FY23 FY23 R
FY23 R
FY23 P
FY23 P
FY22 FY23P

Current Account Balance -2,820 -2,321 -2,446 -1,314 571 220 334 632 -17,481 -2,557
Current Account Balance without Official Transfers -3,079 -2,347 -2,529 -1,406 487 177 315 538 -17,823 -2,910
Exports of Goods FOB 25,639 3,130 7,391 6,841 6,848 2,603 2,127 6,831 32,493 27,911
Imports of Goods FOB 54,273 7,204 16,380 13,262 11,714 3,769 3,192 10,638 71,543 51,994
Balance on Trade in Goods -28,634 -4,074 -8,989 -6,421 -4,866 -1,166 -1,065 -3,807 -39,050 -24,083
Exports of Services 5,945 664 1,654 2,080 1,872 607 571 1,693 7,102 7,299
Imports of Services 8,461 1,329 1,935 1,983 1,888 903 655 2,213 12,942 8,019
Balance on Trade in Services -2,516 -665 -281 97 -16 -296 -84 -520 -5,840 -720
Balance on Trade in Goods and Services -31,150 -4,739 -9,270 -6,324 -4,882 -1,462 -1,149 -4,327 -44,890 -24,803
Primary Income Credit 508 68 255 213 263 34 51 129 652 860
Primary Income Debit 4,908 549 1,283 1,824 1,575 581 720 1,897 5,900 6,579
Balance on Primary Income -4,400 -481 -1,028 -1,611 -1,312 -547 -669 -1,768 -5,248 -5,719
Balance on Goods, Services and Primary Income -35,550 -5,220 -10,298 -7,935 -6,194 -2,009 -1,818 -6,095 -50,138 -30,522
Secondary Income Credit 33,027 2,920 7,891 6,728 6,850 2,265 2,180 6,810 32,949 28,279
General Government 281 33 84 97 89 44 20 96 376 366
Current International Cooperation 34 1 2 1 9 15 0 16 54 28
Other Official Current Transfers 247 32 82 96 80 29 20 80 322 338
Financial Corporations, NFCs*, Households and NPISHs 32,746 2,887 7,807 6,631 6,761 2,221 2,160 6,714 32,573 27,913
Workers' Remittances 29,450 2,790 7,686 6,426 6,427 2,103 2,184 6,485 31,279 27,024
Other Personal Transfers 0 0 0 0 0 0 0 0 0 0
Other Current Transfers 3,296 97 121 205 334 118 -24 229 1,294 889
Secondary Income Debit 297 21 39 107 85 36 28 83 292 314
Balance on Secondary Income 32,730 2,899 7,852 6,621 6,765 2,229 2,152 6,727 32,657 27,965
Capital Account Balance 224 18 34 283 29 7 11 28 205 374
Capital Account Credit 224 18 34 283 29 7 11 28 205 374
Capital Account Debit 0 0 0 0 0 0 0 0 0 0
Net Lending (+) / Net Borrowing (–) (Balance from Current and Capital Accounts) -2,596 -2,303 -2,412 -1,031 600 227 345 660 -17,276 -2,183
Financial Account -8,768 -2,856 -217 1,209 1,135 566 -772 -517 -11,261 1,610
Direct Investment -1,648 -242 -205 784 -527 -158 -121 -368 -1,702 -316
Direct Investment Abroad 171 29 97 1,045 -18 -8 -7 18 234 1,142
Equity and Investment Fund Shares (including Reinvested Earnings) 43 -1 7 961 -18 -8 -8 -11 48 939
Debt Instruments 128 30 90 84 0 0 1 29 186 203
Direct Investment in Pakistan 1,819 271 302 261 509 150 114 386 1,936 1,458
Equity and Investment Fund Shares (including Reinvested Earnings) 1,790 141 342 267 450 117 108 338 1,590 1,397
Debt Instruments 29 130 -40 -6 59 33 6 48 346 61
Portfolio Investment -2,774 69 30 1,003 -20 15 -8 -1 55 1,012
Portfolio Investment Abroad -12 0 0 0 -1 0 -12 -13 -24 -14
Equity and Investment Fund Shares** -24 0 0 0 -1 0 -12 -13 9 -14
Debt Securities 12 0 0 0 0 0 0 0 -33 0
Portfolio Investment in Pakistan 2,762 -69 -30 -1,003 19 -15 -4 -12 -79 -1,026
Equity and Investment Fund Shares** -294 -11 -11 -1 10 -14 -4 -12 -388 -14
Debt Securities 3,056 -58 -19 -1,002 9 -1 0 0 309 -1,012
Financial Derivatives (Other than Reserves) and Employee Stock Options 0 1 -1 -6 -3 0 0 0 -1 -10
Other Investment -4,346 -2,684 -41 -572 1,685 709 -643 -148 -9,613 924
Net Acquisition of Financial Assets 1,345 496 36 -1,430 600 172 -101 -241 2,613 -1,035
Central Bank 0 0 0 0 0 0 0 0 0 0
Deposit Taking Corporations 608 370 -21 -191 585 15 -81 -164 382 209
General Government 15 6 11 -909 -2 -1 15 13 914 -887
Other Sector 722 120 46 -330 17 158 -35 -90 1,317 -357
Net Incurrence of Liabilities 5,691 3,180 77 -858 -1,085 -537 542 -93 12,226 -1,959
Central Bank -1,468 0 3 0 -3 0 0 0 -1 0
Deposit Taking Corporations 499 182 -25 -122 1,205 -31 292 395 846 1,453
General Government 5,738 2,234 245 -519 -1,792 -344 281 -9 6,117 -2,075
Disbursements 9,808 2,915 2,206 3,151 1,674 406 2,176 2,865 11,256 9,896
Credit and Loans with the IMF (Other than Reserves) 500 0 1,166 0 0 0 0 0 1,053 1,166
Other Long Term 8,060 2,778 639 2,791 1,392 306 2,076 2,565 7,989 7,387
Short Term 1,248 137 401 360 282 100 100 300 2,214 1,343
Amortization 5,855 543 1,861 3,560 3,385 745 1,876 2,854 8,343 11,660
Credit and Loans with the IMF (Other than Reserves) 0 0 0 0 0 0 0 0 0 0
Other Long Term 5,071 518 1,415 3,228 2,978 625 1,876 2,734 7,811 10,355
Short Term 784 25 446 332 407 120 0 120 532 1,305
Other Liabilities (Net) 1,785 -138 -100 -110 -81 -5 -19 -20 3,204 -311
Summary Balance of Payments as per BPM6 - June 2023

(Million US$)
Jul-Jun Jun Jul-Sep Oct-Dec Jan-Mar May Jun Apr-Jun Jul-Jun
Items
FY21 FY22 FY23 FY23 FY23 R
FY23 R
FY23 P
FY23 P
FY22 FY23P
Other Sector 922 764 -146 -217 -495 -162 -31 -479 2,491 -1,337
Disbursements 2,163 816 81 175 79 0 98 99 3,271 434
Amortization 1,253 126 315 477 448 143 110 426 1,111 1,666
Other Liabilities (Net) 12 74 88 85 -126 -19 -19 -152 331 -105
Allocation of SDRs 0 0 0 0 0 0 0 0 2,773 0
Net Errors and Omissions -619 79 177 -26 -152 -406 -5 -425 -303 -426
Overall Balance -5,553 -632 2,018 2,266 687 745 -1,112 -752 6,318 4,219
Reserves and Related Items 5,553 632 -2,018 -2,266 -687 -745 1,112 752 -6,318 -4,219
Reserve Assets 4,473 351 -2,219 -2,546 -893 -745 832 472 -7,333 -5,186
Use of Fund Credit and Loans -1,080 -281 -201 -280 -206 0 -280 -280 -1,015 -967
Exceptional Financing 0 0 0 0 0 0 0 0 0 0
SBP Gross Reserves incl CFC less RBI Unsettled Claims*** 18,716 11,090 8,602 6,159 5,312 4,863 5,669 5,669 11,090 5,669
CRR/SCRR 1,230 1,026 557 458 1,014 1,098 1,112 1,112 1,026 1,112
SBP Reserves (Excluding CRR /SCRR) 17,486 10,064 8,045 5,702 4,299 3,765 4,557 4,557 10,064 4,557
SBP Reserves excluding CRR/SCRR, Net ACU, Foreign Currency Cash holding@ 17,299 9,815 7,860 5,586 4,208 3,679 4,467 4,467 9,815 4,467
DMB's Reserves - Net of CRR/SCRR 1,387 1,629 1,590 1,369 1,918 1,802 1,716 1,716 1,629 1,716
DMB's Reserves - Net of CRR/SCRR & Placements Other than FE25 1,384 1,628 1,589 1,369 1,917 1,801 1,716 1,716 1,628 1,716
Memorandum Items:
Exports of Goods and Services 31,584 3,794 9,045 8,921 8,720 3,210 2,698 8,524 39,595 35,210
Exports of Non Factor Services 5,945 664 1,654 2,080 1,872 607 571 1,693 7,102 7,299
Export Growth (Goods) over corresponding period 13.8 25.6 2.7 -14.9 -19.1 3.9 -32.0 -22.3 26.7 -14.1
Imports Growth (Goods) over corresponding period 24.4 14.3 -4.2 -27.7 -32.3 -33.1 -55.7 -43.4 31.8 -27.3
Current Account % of GDP -0.8 - - - - - - - -4.7 -0.7
GDP**** 348,262 - - - - - - - 374,266 341,365
R: Revised; P: Provisional
* Non Financial Corporations.
** Including Reinvested Earnings
*** Includes Cash Foreign Currency holding and excludes unsettled claim on RBI.
**** GDP relates to specific period under the column. GDP on current basic price of 2015-16 as per PBS website has been converted to US$ at period average M2M exchange rate.
@ excludes Net ACU Balance from June, 2020 onward
See press release of latest BPM6 revisions at:
http://www.sbp.org.pk/departments/stats/ntb.htm
See press release of BPM6 at:
http://www.sbp.org.pk/press/2013/BPM6-16-Aug-2013.pdf
FAQs on Conversion from BPM5 to BPM6 at:
http://www.imf.org/external/pubs/ft/bop/2007/bpm6faq.pdf

Notes:
1. Data Sources: The data is collected from a number of sources including authorized dealers(banks, exchange companies), economic affairs division, Pakistani missions abroad, domestic and foreign
shipping and airline companies, various departments/divisions of State Bank of Pakistan and other relevant quarters.
2. Accounting Treatment: ITRS data is on cash basis. Adjustments of outstanding export bills, re-invested earnings etc. are done to make the data on accrual basis. Economic Affairs Division records
their loans on due for payment basis; resultantly, current account is both on cash and accrual basis.
Re-invested earning is currently being calculated as: (Reserves + Unappropriated Profits) x Percentage Shares held by Foreign Investors.

3. The figures of merchandise trade used for compilation of BOP are based on exchange records which may differ from those compiled using customs records.

4. CIF margin 2.70% has been used from Jul-2019 to Jun- 2020, 3.17% has been used from Jul-2020 to Jun- 2021, 5.02% from Jul-2021 to Sep-2021, 7.02% from Oct-2021 to Dec-2021, 6.67% from
Jan-2022 to Mar-2022 and 5.65% from Apr-2022 to Jun-2022, 4.14% from Jul-2022 to Sep-2022, 4.01% from Oct-2022 to Dec-2022,4.14% in Jan-2023, 4.01% from Feb-2023 to onward.
5. Due to rounding off, figures of Trade of Good and Services, Workers' remittances, FDI, FPI and Government Disbursements may differ from source data available on websites.

Contact Person: Syed Kamran Najam, Sr. Joint Director

Phone No: 021-99221468
Email: feedback.statistics@sbp.org.pk