Pakistan’s remittances increased by 9.3 percent during the first four months of the current fiscal year, the Ministry of Finance said on Friday.

According to the official report, overseas Pakistanis sent home $11.85 billion between July and October. Exports during the same period stood at $10.6 billion, showing a modest rise of 2 percent. Meanwhile, imports grew by 9.6 percent, reaching $20.7 billion.

The country’s current account deficit crossed $730 million from July to October. Foreign direct investment fell sharply by 26 percent, dropping to $747.7 million, the report added.

The value of the US dollar also increased compared to last year. The greenback became Rs2.60 costlier, reaching Rs280.60 on November 27, up from Rs278 during the same period last year.

Tax revenue rose 11.4 percent to Rs3,834 billion in the July–October period, while non-tax revenue saw a slight decline of 0.4 percent, settling at Rs3,008 billion. The overall budget deficit stood at Rs2,119 billion, whereas the primary balance remained positive at Rs3,497 billion, according to the Ministry.

Agriculture continued to receive strong financial support, with loans worth Rs845 billion issued in the four months—an 18.6 percent increase from last year. However, credit to the private sector dropped significantly.

The report also noted an improvement in industrial activity, as large-scale manufacturing posted a 4.08 percent increase in output from July to September.