BALANCE OF PAYMENTS
(in U.S.$ million)
2000-01 2001-02 2002-03 2003-04 2004-05 2005-06 Jul-Dec
FY07* FY06
Current account (excl.official transfers) (1,951) 94 3,165 1,314 (1,753) (5,649) (4,692) (3,068)
Current account balance (1,112) 1,589 4,203 1,893 (1,344) (4,774) (4,363) (2,806)
Trade balance (1,269) (294) (444) (1,208) (4,352) (8,259) (5,148) (4,022)
Exports f.o.b(1) 8,933 9,140 10,889 12,396 14,401 16,388 8,390 7,793
Imports f.o.b(2) 10,202 9,434 11,333 13,604 18,753 24,647 13,538 11,815
Services (net) (3,142) (2,617) (2,128) (3,594) (5,841) (7,304) (4,377) (3,406)
Of which Interest payments (1,661) (1,579) (1,277) (1,057) (1,037) (1,248) (641) (633)
Private transfers(net) 2,460 3,005 5,737 6,116 8,440 9,914 4,833 4,360
Workers remittances 1,087 2,390 4,237 3,871 4,168 4,600 2,568 2,055
FCA(Res.) 534 285 (12) 367 521 312 24 219
Other 839 330 1,512 1,878 3,751 5,002 2,241 2,086
Official transfers(net) 839 1,495 1,038 579 409 875 329 262
Of which saudi oil facility 683 579 637 302 - - - -
Of which additional grant pledges 742 209 202 231 464 31 117
Of which grants for Afghan refugees 2 20 8 2 2 2 1 2
Capital account (624) (2,321) (1,710) (2,903) (1,248) 1,379 2,688 350
Public medium and long-term capital (651) (1,612) (1,656) (2,087) (334) (172) 412 (732)
Project and non-project loans (332) (981) (1,840) (1,985) (843) (363) (212) (253)
Disbursements 1,463 532 581 434 591 696 295 321
Amortization (1,795) (1,513) (2,421) (2,419) (1,434) (1,059) (507) (574)
Commercial banks and IDB(net) (76) (224) (158) (33) (16) (16) (16) (16)
Other(i) (243) (407) 342 (69) 525 207 640 (463)
Public sector short-term(net)(iii) (59) (1,065) (268) (872) (418) (598) (585) (475)
Private medium and long-term(ii) 345 (80) 164 693 858 2,613 2,356 1,252
Of which FDI 323 368 612 951 1,162 1,981 1,740 866
Private short-term(incl.errors & omissions)(iv) (259) 436 50 (637) (1,354) (464) 505 305
Overall balance, before debt relief (1,736) (732) 2,493 (1,010) (2,592) (3,395) (1,675) (2,456)
Financing 1,736 732 (2,493) 1,010 2,592 3,395 1,675 2,456
Reserves assets(Increase) (1,085) (3,082) (5,261) (399) (227) (675) 76 900
SBP(incl.FE-25) (726) (2,717) (5,911) (422) 493 (779) 91 703
Deposit money banks (359) (365) 650 23 (720) 104 (15) 197
Use of Fund credit(net) (239) (194) (418) (672) (400) (143) (53) (90)
Net Exceptional financing 3,060 4,008 3,186 2,081 3,219 4,213 1,652 1,646
Accumulation arrears (462) - - - - - - -
Debt relief public & publicly guaranteed 1,586 1,209 910 - - - - -
Repayment of Arrears (64) - - - - - - -
Rollover FCDS and deposits at SBP & NBP 1,676 1,314 900 1,200 1,200 1,200 700 700
Debt relief from commercial Banks - - 100 100 100 100 100 100
Principal and interest arears paid - - - - - - - -
Eurobond rescheduling - - - - - - - -
Additional Commercial Bank Borrowing - - - - - - - -
Possible additional borrowing from IFIs 324 1,368 1,090 781 1,556 1,373 719 591
World Bank IDA - 699 213 192 725 948 168 296
ADB - 185 408 344 576 330 551 295
Other(including IMF) 324 484 469 245 255 95 - -
Grant Pledgee - - - - - -
Privatization receipts - 117 186 - 363 1,540 133 255
Financing gap - - - - - -
SBP Gross reserves 2,088 4,809 10,727 11,182 10,687 11,471 11,389 9,969
SBP Reserves excl. Compulsory Reserve Ratio(maintained by - - - -
commercial banks) & India Sinking Fund(outstanding claims against - - - -
India following the partition) 1,681 4,329 9,521 10,556 9,797 10,757 10,631 9,218
Sinking fund - - 730 65 200 - 33 -
CRR 399 472 468 553 682 706 717 743
(1) Exports f.o.b. are on actual receipt basis.
(2) Imports f.o.b. are on actual payment basis.
Source: State Bank of Pakistanh.
* Provisional
