State Bank of Pakistan’s summary Balance of Payments – Press Note issued by State Bank of Pakistan

Karachi, May 17, 2012 (PPI-OT):

Summary Balance of Payments as per BPM5

ITEM

Jul – Jun

Jul-Sep

Oct-Dec

Jul – Mar

Jan- Mar April

Jul-Apr

FY11*

FY10

FY12*

FY12*

FY12*

FY12*

FY12*

FY12*

FY11*

Current account balance

214

-3946

-1339

-1087

-3081

-655

-313

-3394

466

Current account balance
Without off. transfers

-610

-4502

-1420

-1257

-3537

-860

-341

-3878

-45

   Goods:  Exports f.o.b

25356

19673

6142

5909

18330

6279

2144

20474

20460

   Goods:  Imports f.o.b

35872

31209

10300

9646

30010

10064

3147

33157

28959

       Trade Balance

-10516

-11536

-4158

-3737

-11680

-3785

-1003

-12683

-8499

   Services:  Credit

5768

5229

1190

1397

3760

1173

341

4101

4917

   Services:  Debit

7708

6919

1936

1987

5832

1909

616

6448

6142

       Balance on Goods & Services

-12456

-13226

-4904

-4327

-13752

-4521

-1278

-15030

-9724

   Income:  Credit

716

561

222

267

627

138

41

668

563

   Income:  Debit

3733

3843

869

1198

2893

826

430

3323

3028

Of which :Interest  Payments

1483

1467

365

515

1208

328

64

1272

1114

Profit & Dividend

600

661

167

230

525

128

232

757

547

       Balance on Gds & Serv. & Inc

-15473

-16508

-5551

-5258

-16018

-5209

-1667

-17685

-12189

   Current Transfers.:Credit

15863

12672

4229

4230

13029

4570

1371

14400

12798

     Of which:
  Workers Remittances

11201

8906

3297

3028

9736

3411

1141

10877

9046

  FCA Residents

367

629

-78

167

238

149

-69

169

353

   Current Transfers :Debit

176

110

17

59

92

16

17

109

143

Capital Account,

161

175

28

67

167

72

0

167

82

   Capital Account, : Credit

161

180

28

69

170

73

0

170

82

Project grants

160

157

28

68

165

69

0

165

82

Debt forgiveness

0

0

0

0

0

0

0

0

0

Others

1

23

0

1

5

4

0

5

0

   Capital Account… Debit

0

5

0

2

3

1

0

3

0

Financial Account

2101

5097

538

-21

800

283

400

1200

690

   Direct Investment Abroad

-44

-76

-33

-10

-56

-13

-7

-63

-52

   Dir. Invest. In Rep. Econ.

1635

2151

264

268

600

68

68

668

1293

   Portfolio Investment Assets

-7

-1

0

3

-13

-16

-11

-24

-7

      Equity Securities

-7

-1

0

0

-18

-18

-11

-29

-7

      Debt Securities

0

0

0

3

5

2

0

5

0

   Portfolio Investment Liab.

345

-64

-46

-116

-132

30

30

-102

302

      Equity Securities

366

588

-45

-63

-81

27

12

-69

329

      Debt Securities

-21

-652

-1

-53

-51

3

18

-33

-27

  Financial Derivatives Assets

0

0

0

0

0

0

0

0

0

  Financial Derivatives Liabilities

0

0

0

0

0

0

0

0

0

  Other Investment Assets

-920

-11

313

-384

-25

46

246

221

-1598

     Monetary Authorities

0

0

0

0

0

0

0

0

0

     General Government

-3

-6

1

0

-2

-3

0

-2

-5

     Banks

-63

386

267

-64

159

-44

132

291

-844

     Other Sector

-854

-391

45

-320

-182

93

114

-68

-749

 Other Investment Liab.

1092

3098

40

218

426

168

74

500

752

     Monetary Authorities

-10

1257

-8

1

-5

2

0

-5

-10

     General Government

298

1961

-48

319

385

114

4

389

-25

Disbursements

2377

4134

372

650

1496

474

92

1588

1674

   Long-term

2377

3564

372

650

1496

474

92

1588

1674

        Project loans

925

1048

294

650

1418

474

92

1510

770

        Program loans

1452

2516

78

0

78

0

0

78

904

   Short-term

0

570

0

0

0

0

0

0

0

        Commercial loans

0

0

0

0

0

0

0

0

0

        IDB loans

0

570

0

0

0

0

0

0

0

Amortization

1957

2250

420

331

1096

345

88

1184

1677

   Long-term

1557

1360

320

331

996

345

88

1084

1277

   Short-term

400

890

100

0

100

0

0

100

400

Other Liabilities

-122

77

0

0

-15

-15

0

-15

-22

     Banks

52

-226

367

73

733

293

-27

706

-26

     Other Sector

752

106

-271

-175

-687

-241

97

-590

813

Disbursements

489

619

101

199

347

47

6

353

410

Amortization

509

606

161

236

545

148

33

578

386

Other Liabilities

772

93

-211

-138

-489

-140

124

-365

789

Net Errors and Omissions

16

-60

14

8

-537

-559

22

-515

-29

       Overall Balance

2492

1266

-759

-1033

-2651

-859

109

-2542

1209

Reserves and Related Items

-2492

-1266

759

1033

2651

859

-109

2542

-1209

   Reserve Assets

-2225

-4063

814

1114

3239

1311

-96

3143

-1010

Foreign Exchange ( SBP)

-2225

-4063

814

1114

3239

1311

-96

3143

-1010

Foreign Exchange ( DMB)

0

0

0

0

0

0

0

0

0

   Use of Fund Credit and Loans

-267

2174

-55

-81

-588

-452

-13

-601

-199

Purchases /

0

2413

0

0

0

0

0

0

0

Repurchases

267

239

55

81

588

452

13

601

199

   Exceptional Financing

0

623

0

0

0

0

0

0

0

SBP  Gross Reserves #

16614

13953

15614

14451

13167

13167

13282

13282

15471

Foreign Currency Cash Holding

878

154

1017

603

241

241

166

166

835

CRR/SCRR

952

841

946

973

1092

1092

1076

1076

932

Sinking Fund

0

0

0

0

0

0

0

0

0

SBP Reserves( Excl. CRR & Sinking Fund)

15662

13112

14668

13478

12075

12075

12206

12206

14539

DMB’s Reserves- Net of CRR/SCRR

1211

1387

1168

1406

1336

1336

1101

1101

1911

Memorandum Items :
Exports of goods and services

31124

24902

7332

7306

22090

7452

2485

24575

25377

Exports of non-factor services

5768

5229

1190

1397

3760

1173

341

4101

4917

     Export Growth

28.9

2.9

16.6

101.1

2.4

35.1

-16.5

0.1

26.6

     Imports Growth

14.9

-1.7

24.7

111.8

15.2

38.6

8.1

14.5

13.7

     Current account % of GDP

0.1

-2.2

-2.3

-1.8

-1.7

-1.1

-1.6

-1.7

0.3

In months of  imports of
goods & Services*/

4.4

3.9

3.0

2.9

2.6

2.6

2.7

2.7

4.1

            GDP*/

210768

176725

59439

59439

178317

59439

19813

198130

175640

For more information, contact:
Syed Wasimuddin
Chief Spokesman
State Bank of Pakistan (SBP)
Tel: +9221 3921 2562
Fax: +9221 3921 2563
Email: syed.wasimuddin@sbp.org.pk

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