Adviser to the Finance Minister, Khurram Schehzad, announced that Pakistan has achieved a current account surplus of USD 1.07 billion in March 2026, marking a major milestone for the national economy. This represents the third consecutive monthly surplus of the year, underscoring a significant improvement in the country’s external sector and balance of payments.
Schehzad, sharing the development via his official X (formerly Twitter) account, hailed the achievement as a “triumph for the national economy.”
The March 2026 surplus of USD 1.07 billion ranks as the second-highest monthly surplus in Pakistan’s history, following the record USD 1.2 billion surplus of March 2025. According to the adviser, the momentum has been steadily building since the start of the year with a USD 68 million surplus in January, USD 231 million in February, and now USD 1.07 billion in March.
This surge has fully offset the cumulative deficit from the first eight months of the fiscal year, turning the FY26 (Jul-Mar) balance from a USD 700 million deficit to an USD 8 million surplus.
Schehzad emphasized that strengthening macroeconomic fundamentals have enabled Pakistan to weather global energy price pressures and regional geopolitical uncertainties. “Pakistan’s external sector is firming up, with sustained surpluses signaling improving balance of payments stability,” he said. “The country is now better positioned to absorb future global shocks.”
Economic experts have dubbed this achievement the “March Miracle”, crediting it to several key drivers that surging remittances, particularly seasonal inflows from the Pakistani diaspora linked to Ramadan and Eid celebrations.
Record IT exports, approaching USD 3 billion for the fiscal year and continued import discipline, with a focus on growth-driven rather than consumption-led spending.
The Finance Ministry expressed cautious optimism, noting that while external debt challenges remain, the sustained current account surpluses mark a significant step toward long-term economic stability and investor confidence. “Pakistan’s external sector has entered a phase of strengthening and consolidation,” Schehzad concluded. “This sustained performance reflects the government’s commitment to prudent economic management and resilience amid global uncertainties.”