SBP Issues Clarification on Current Account Balance After PBS Trade Data Revision
Key Takeaways
- The State Bank of Pakistan (SBP) confirmed no significant revisions to its current account balance data are expected.
- The SBP's data methodology relies mainly on trade payments information received from banks.
- This differs from the customs-based trade data published by the Pakistan Bureau of Statistics (PBS).
- The clarification was issued to counter speculation that PBS data updates would force changes in SBP figures.
- Minor revisions to the SBP's data may still occur as part of standard practice.
The State Bank of Pakistan (SBP) released a statement on Monday to address speculation regarding potential changes to its current account balance data following revisions in trade figures by the Pakistan Bureau of Statistics (PBS). The central bank firmly clarified that it does not anticipate any significant revisions to its already published current account figures. This is because the SBP computes its trade data predominantly based on trade payments information received directly from commercial banks, contrasting with the customs-based methodology employed by PBS. The SBP explicitly stated that, due to this methodological difference, there will be no major adjustments to the published Current Account (C/A) balance data. While minor revisions might still be incorporated according to established procedures, the core figures are deemed stable. This clarification was issued in the broader public interest to quell rumors suggesting that PBS data revisions would necessitate corresponding changes in SBP's financial statistics.
