Worker remittances rise 10% in July-January

Country receives $9b from overseas.

KARACHI: Overseas Pakistani workers remitted $9.033 billion in the first seven months (July-January) of fiscal year 2013-14, a growth of 10.08% compared with $8.206 billion received in the same period of previous year.

Inflow of remittances in July-January FY14 from Saudi Arabia, UAE, USA, UK, Gulf Cooperation Council (GCC) countries (including Bahrain, Kuwait, Qatar and Oman) and European Union countries amounted to $2.597 billion, $1.786 billion, $1.441 billion, $1.309 billion, $1.048 billion and $251.13 million respectively.



In comparison, the inflows from these countries were $2.292 billion, $1.669 billion, $1.324 billion, $1.155 billion, $941.83 million and $217.89 million respectively in July-January FY13.

Remittances from Norway, Switzerland, Australia, Canada, Japan and other countries during the first seven months of the current fiscal year amounted to $600.85 million against $605.89 million in the same period a year ago.

In January, the inflow of remittances from Saudi Arabia, UAE, USA, UK, GCC countries and EU countries amounted to $393.12 million, $213.50 million, $193.01 million, $169.46 million, $150.31 million and $34.56 million respectively.

In January 2013, the inflows were $331.40 million, $208.46 million, $168.46 million, $150.34 million, $130.65 million and $29.12 million respectively. Remittances from Norway, Switzerland, Australia, Canada, Japan and other countries during January this year amounted to $89.43 million.

Published in The Express Tribune, February 12^th, 2014.

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