Remittances rise by11.45pc to $12.9bn in 10 months


KARACHI: State Bank of Pakistan (SBP) Monday said overseas Pakistani workers remitted an amount of $12,894.61 million in the first ten months (July – April) of the current fiscal year 2013-14 (FY14), showing a growth of 11.45 percent when compared with $11,569.82 million received during the same period of last fiscal year (July- April FY13).

The inflow of remittances in July – April FY14 from Saudi Arabia, UAE, USA, UK, GCC countries (including Bahrain, Kuwait, Qatar and Oman), and EU countries amounted to $3,806.36 million, $2,522.89 million, $2,027.06 million, $1,798.28 million, $1,527.40 million and $355.31 million respectively as compared with the inflow of $3,371.59 million, $2,312.01 million, $1,819.85 million, $1,611.11 million, $1,331.67 million and $297.69 million respectively in July – April FY13. Remittances received from Norway, Switzerland, Australia, Canada, Japan and other countries during the first ten months of current fiscal year amounted to $857.31 million as against $825.8 million received in the first ten months of last fiscal year.

In April 2014, the inflow of remittances from Saudi Arabia, UAE, USA, UK, GCC countries (including Bahrain, Kuwait, Qatar and Oman), and EU countries amounted to $415.09 million, $233.97 million, $206.15 million, $166.07 million, $169.67 million and $36.37 million respectively as compared with the inflow of $392.28 million, $226.07 million, $183.19 million, $176.14 million, $135.81 million and $28.65 million respectively in April, 2013. Remittances received from Norway, Switzerland, Australia, Canada, Japan and other countries during the tenth month of the current fiscal year (April FY14) amounted to $84.51 million.

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