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Home / Business / Remittances soar to $7,398.4m from $6,407.5m in 5 months of FY14-15
Remittances soar to $7,398.4m from $6,407.5m in 5 months of FY14-15

Remittances soar to $7,398.4m from $6,407.5m in 5 months of FY14-15

KARACHI: The country has witnessed improvement in remittances as the overseas Pakistanis sent $7,398.4 million in first five months of Fiscal Year 2014-15, reflecting the growth of 15.5 per cent as compared to last year’s $6,407.5 million.

As per details, during November 2014, the inflow of remittances amounted to $1,320.6 million, which is 4.5pc lower than October 2014 but 16.8pc higher than November 2013.

The country wise details for the month of November 2014 shows that inflows from Saudi Arabia, UAE, USA, UK, GCC countries (including Bahrain, Kuwait, Qatar and Oman) and EU countries amounted to $429.1 million, $271.2 million, $178.8 million, $156.7 million, $150.5 million and $24.3 million respectively compared with the inflow of $334.1 million, $236.3 million, $174.4 million, $155.1 million, $128.2 million and $29.8 million respectively in November 2013.

Remittances received from Norway, Switzerland, Australia, Canada, Japan and other countries during November 2014 amounted to $110.2 million together as against $71.76 million received in November 2013.