Workers’ remittances rise 11.9percent to $11.58 billion in first nine months of fiscal year 2013‐14

Karachi, April 10, 2014 (PPI-OT): Overseas Pakistani workers remitted an amount of $11.58 billion in the first nine months (July – March) of the current fiscal year 2013‐14 (FY14), showing a growth of 11.87 percent when compared with $10,353.82 million received during the same period of last fiscal year (July- March FY13).

The inflow of remittances in July – March FY14 from Saudi Arabia, UAE, USA, UK, GCC countries (including Bahrain, Kuwait, Qatar and Oman), and EU countries amounted to $3,391.27 million, $2,288.92 million, $1,820.91 million, $1,632.21 million, $1,357.73 million and $318.94 million respectively as compared with the inflow of $2,979.31 million, $2,085.94 million, $1,636.66 million, $1,434.97 million, $1,195.86 million and $269.04 million respectively in July – March FY13.

Remittances received from Norway, Switzerland, Australia, Canada, Japan and other countries during the first nine months of current fiscal year amounted to $772.8 million as against $752.04 million received in the first nine months of last fiscal year.

In March 2014, the inflow of remittances from Saudi Arabia, UAE, USA, UK, GCC countries (including Bahrain, Kuwait, Qatar and Oman), and EU countries amounted to $425.53 million, $262.00 million, $194.82 million, $166.46 million, $164.03 million and $34.93 million respectively as compared with the inflow of $351.53 million, $220.22 million, $175.53 million, $150.22 million, $128.36 million and $26.43 million respectively in March, 2013. Remittances received from Norway, Switzerland, Australia, Canada, Japan and other countries during the nine month of the current fiscal year (March FY14) amounted to $89.48 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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