10MFY14: Workers’ remittances rise 11.45%

Remittances amount to over $12.89b during July-April

KARACHI:

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% 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 from Norway, Switzerland, Australia, Canada, Japan and other countries during the first 10 months of current fiscal year amounted to $857.31 million as against $825.8 million received in the first 10 months of last fiscal year.



In April 2014, the 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  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.

Published in The Express Tribune, May 13^th, 2014.

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