Workers’ remittances rise 11.45percent to $12.9 billion in first ten months of fiscal year 2013‐14 : AsiaNet-Pakistan

Workers’ remittances rise 11.45percent to $12.9 billion in first ten months of fiscal year 2013‐14

May 12, 2014 | Financial Services | Share:

Karachi, May 12, 2014 (PPI-OT): 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.

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