The surplus marks a sharp turnaround from a $276 million deficit in April 2026 and a $44 million deficit in May 2025, highlighting an improvement in the country’s external account position.

Officials attributed the surplus primarily to record-high remittance inflows, which significantly outweighed the trade deficit during the month.

Record remittances drive surplus

Workers’ remittances reached $4.25 billion in May 2026, up 15.4% year-on-year compared to $3.69 billion in the same month last year, according to SBP data.

Exports of goods and services stood at $3.21 billion, slightly higher than $3.17 billion in May 2025, while imports rose to $6.49 billion, up nearly 2% from $6.39 billion a year earlier.

External position strengthens

Despite monthly volatility, Pakistan posted a cumulative current account surplus of $255 million during the first 11 months of FY2026, though this was significantly lower than the $1.62 billion surplus recorded in the same period last year, reflecting an 84% decline, according to a report in Business Recorder.

Adviser to the Finance Minister Khurram Schehzad said the trend reflects strengthening external stability, noting, “four surpluses in five months. A stronger external account is the foundation of sustainable high economic growth.”