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Overseas Pakistanis send $13.9b remittances in FY 2012-13

Overseas Pakistanis send $13.9b remittances in FY 2012-13

LAHORE: Overseas Pakistanis sent home a record $13.920 billion in the previous fiscal year (July 2012-June 2013), showing a growth of $733.64 million as compared with $13.187 billion a year earlier.

Remittances from Saudi Arabia, UAE, USA, UK, Gulf Cooperation Council (GCC) countries (including Bahrain, Kuwait, Qatar and Oman) and EU countries amounted to $4.105 billion, $2.750 billion, $2.186 billion, $1.946 billion, $1.608 billion and $357.37 million respectively, according to data released by the State Bank of Pakistan.

Remittances from Norway, Switzerland, Australia, Canada, Japan and other countries in July-June 2012-13 were $967.79 million against $935.36 million in the previous fiscal year (July-June 2011-12).