Workers’ remittances rise over 6per cent to $5.3 billion in First Four months (July – October) of current fiscal year 2013‐14

Karachi, November 11, 2013 (PPI-OT): Overseas Pakistani workers remitted an amount of $5275.61 million in the first four months (July – October) of the current fiscal year 2013‐14 (FY14), showing a growth of 6.27 percent when compared with $4964.21 million received during the same period of last fiscal year (July- October FY13).

The inflow of remittances in July- October FY14 from Saudi Arabia, UAE, USA, UK, other GCC countries (including Bahrain, Kuwait, Qatar and Oman), and EU countries amounted to $1459.63 million, $1060.93 million, $850.05 million, $807.63 million, $604.46 million and $149.30 million respectively as compared with the inflow of $1308.61 million, $1046.83 million, $841.28 million, $697.33 million, $559.51 million and $134.53 million respectively in July- October FY13. Remittances received from Norway, Switzerland, Australia, Canada, Japan and other countries during the first four months of current fiscal year amounted to $343.61 million as against $376.12 million received in the first four months of last fiscal year.

In October 2013, the inflow of remittances from Saudi Arabia, UAE, USA, UK, other GCC countries (including Bahrain, Kuwait, Qatar and Oman), and EU countries amounted to $353.46 million, $276.48 million, $225.25 million, $197.08 million, $157.32 million and $40.11 million respectively as compared with the inflow of $347.52 million, $293.74 million, $217.56 million, $197.18 million, $163.37 million and $37.48 million respectively in October, 2012. Remittances received from Norway, Switzerland, Australia, Canada, Japan and other countries during October 2013 amounted to $97.97 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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