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Overseas Pakistanis’ remittances rise 15%, hit $13.3 billion in first 9 months of 2014-15

byCustoms Today Report
11/04/2015
in Business
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ISLAMABAD: Overseas Pakistani workers remitted $13.32 billion in the first nine months (July-March) of fiscal year 2014-15, showing a significant growth of 15 percent.

The remittances during the same period of the preceding year stood at $11.58 billion, says a statement issued here on Friday.

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During March 2015, the inflow of workers’ remittances amounted to $1,576.97 million, which is 13.3 percent higher than February 2015 and 18 percent more than March 2014.

The country-wise details for the month of March 2015 show that inflows from Saudi Arabia, UAE, USA, UK, GCC countries (including Bahrain, Kuwait, Qatar and Oman) and EU countries amounted to $489.70 million, $411.24 million, $199.24 million, $164.28 million, $196.07 million and $25.96 million, respectively, as compared to the inflow of $425.53 million, $262.0 million, $195.45 million, $166.46 million, $164.03 million and $34.93 million, respectively, in March 2014.

Remittances received from Norway, Switzerland, Australia, Canada, Japan and other countries during March 2015 remained $90.48 million together against $89.49 million received in March 2014.

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