Overseas Pakistanis remit $1.6bn in July 2014

12 Aug, 2014

KARACHI: Overseas Pakistanis remitted an amount of dollars 1,649.39 million in July 2014. This shows an impressive growth of 17.45 percent compared with $1,404.39 million received during the same month of the last fiscal year (FY14), said State Bank of Pakistan here Tuesday.

The inflow of remittances during July 2014 from Saudi Arabia, United Arab Emirates, United States of America, United Kingdom, GCC countries (including Bahrain, Kuwait, Qatar and Oman) and European Union countries amounted to $ 454.47 million, $ 352.89 million, $ 257.08 million, $ 247.96 million, $ 179.76 million and $44.32 million respectively compared with the inflow of $410.73 million, $252.41 million, $233.06 million, $221.93 million, $161.44 million and $38.59 million respectively in July 2013.

Remittances received from Norway, Switzerland, Australia, Canada, Japan and other countries during the last month amounted to $112.91 million as against $86.23 million received in the same month of the last fiscal year (FY14).

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