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Workers’ remittances rise 11 per cent to $10.2 billion in first eight months of fiscal year 2013-14

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Karachi, March 11, 2014 (PPI-OT): Overseas Pakistani workers remitted an amount of $10,245.53 million in the first eight months (July – February) of the current fiscal year 2013‐14 (FY14), showing a growth of 10.95 percent when compared with $9,234.77 million received during the same period of last fiscal year (July- February FY13).

The inflow of remittances in July- February FY14 from Saudi Arabia, UAE, USA, UK, GCC countries (including Bahrain, Kuwait, Qatar and Oman), and EU countries amounted to $2,965.74 million, $2,026.92 million, $1,626.09 million, $1,465.75 million, $1,193.70 million and $284.01 million respectively as compared with the inflow of $2,627.78 million, $1865.72 million, $1461.13 million, $1284.75 million, $1,067.50 million and $242.61 million respectively in July- February FY13. Remittances received from Norway, Switzerland, Australia, Canada, Japan and other countries during the first eight months of current fiscal year amounted to $683.32 million as against $685.18 million received in the first eight months of last fiscal year.

In February 2014, the inflow of remittances from Saudi Arabia, UAE, USA, UK, GCC countries (including Bahrain, Kuwait, Qatar and Oman), and EU countries amounted to $368.73 million, $240.37 million, $184.59 million, $156.23 million, $144.92 million and $32.79 million respectively as compared with the inflow of $335.76 million, $196.36 million, $137.13 million, $129.40 million, $125.67 million and $24.72 million respectively in February, 2013. Remittances received from Norway, Switzerland, Australia, Canada, Japan and other countries during the eighth month of the current fiscal year (February FY14) amounted to $81.91 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

The post Workers’ remittances rise 11 per cent to $10.2 billion in first eight months of fiscal year 2013-14 appeared first on AsiaNet-Pakistan.

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