Pakistan's Dec c/a surplus shrinks to $160 mln

Pakistans current account posted a provisional surplus of $160 million in December 2011, compared with a surplus of $597 million in December 2010, the central bank said on Wednesday.While it is an improvement over November, when the current account posted a deficit of $688 million, analysts said the surplus is unlikely to be sustainable amid a lack of external aid and scheduled debt repayments.The current account recorded a provisional deficit of $2.154 billion in the first six months of the 2011/12 fiscal year, compared with a surplus of $8 million in the same period last year, according to data from the State Bank of Pakistan.KEY POINTS- Remittances from overseas Pakistanis increased to $1.085 billion in December, compared with $925 million in November and $863 million in December 2010.- The trade deficit narrowed in December to $1.025 billion, compared with $1.239 billion in November, and $1.116 billion in December 2010.