Workers’ remittances rise over 9per cent to $3.9 billion in First Quarter of fiscal year 2013‐14 : AsiaNet-Pakistan

Workers’ remittances rise over 9per cent to $3.9 billion in First Quarter of fiscal year 2013‐14

October 10, 2013 | Financial Services | Share:

Karachi, October 10, 2013 (PPI-OT): Overseas Pakistani workers remitted an amount of $3,927.94 million in the first quarter (July – September) of the current fiscal year 2013‐14 (FY14), showing a growth of 9.14 percent when compared with $3,599.11 million received during the same period of last fiscal year (July- September FY13).

The inflow of remittances in July- September FY14 from Saudi Arabia, UAE, USA, UK, GCC countries (including Bahrain, Kuwait, Qatar and Oman), and EU countries amounted to $1106.17 million, $784.45 million, $624.80 million, $610.55 million, $447.14 million and $109.19 million respectively as compared with the inflow of $961.09 million, $753.09 million, $623.72 million, $500.15 million, $396.14 million and $97.05 million respectively in July- September FY13. Remittances received from Norway, Switzerland, Australia, Canada, Japan and other countries during the first quarter of current fiscal year amounted to $245.64 million as against $267.87 million received in the first quarter of last fiscal year.

In September 2013, the inflow of remittances from Saudi Arabia, UAE, USA, UK, GCC countries (including Bahrain, Kuwait, Qatar and Oman), and EU countries amounted to $373.58 million, $276.03 million, $173.87 million, $190.09 million, $151.24 million and $33.85 million respectively as compared with the inflow of $303.31 million, $247.29 million, $177.11 million, $166.09 million, $122.05 million and $33.48 million respectively in September, 2012. Remittances received from Norway, Switzerland, Australia, Canada, Japan and other countries during September 2013 amounted to $84.75 million.

For more information, contact:
Syed Wasimuddin
Chief Spokesman
State Bank of Pakistan (SBP)
Tel: +9221 3921 2562
Fax: +9221 3921 2563
Email: syed.wasimuddin@sbp.org.pk

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Category: Financial Services