Remittances Rise

Posted at February 12, 2014 | By : | Categories : Latest News

KARACHI: Overseas Pakistanis remitted $9,033.41 million in the first seven months (July-January) of the current fiscal year, a growth of 10.08 per cent compared with $8206.34m in the same period a year ago.

An SBP statement said that the inflow of remittances from Saudi Arabia was $2,596.86m, the United Arab Emirates $1,785.84m, the United States $1,441.42m, the UK $1,309.31m, GCC countries (including Bahrain, Kuwait, Qatar and Oman) $1,048m, and the European Union $251.13m.

The figures in the same period of FY13 were $2,292.02m, $1,669.36m, $1,324m, $1,155.35m, $941.83m and $217.89m, respectively.

Remittances received from Norway, Switzerland, Australia, Canada, Japan and other countries during the seventh-month period amounted to $600.85m as against $605.89m a year earlier.

In January 2014, remittances from Saudi Arabia were $393.12m, the United Arab Emirates $213.50m, the United States $193.01m, the UK $169.46m, GCC countries (including Bahrain, Kuwait, Qatar and Oman) $150.31m, and the European Union $34.56m, compared with $331.40m, $208.46m, $168.46m, $150.34m, $130.65 m and $29.12m in January, 2013.

Remittances received from Norway, Switzerland, Australia, Canada, Japan and other countries during last month were $89.43m.-

Source: DAWN: 12-02-2014