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Foreign remittances rise 14.66% in the first eight months of FY15

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ISLAMABAD: According to External Relations Department of the State Bank of Pakistan, overseas Pakistani workers remitted $11.75 billion in first eight months (July to February) of Fiscal Year 2015, showing an impressive growth of 14.6% compared with $10.25 billion received during the same period of FY14.

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During February 2015, the inflow of worker’s remittances amounted to $1,391.69 million, which is 1.06% higher than January 2015 and 15.04% higher than February 2014.

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The country wise details for the month of February 2015 shows that inflows from Saudi Arabia, UAE, USA, UK, EU countries, and GCC countries including Bahrain, Kuwait, Qatar and Oman amounted to $453.40 million, $316.51 million, $179.03 million, $167.42 million, $166.26 million and $23.99 million respectively compared with the inflow of $368.76 million, $240.38 million, $184.60 million, $156.23 million, $144.92 million and $32.79 million respectively in February 2014.

Remittances received from Norway, Switzerland, Australia, Canada, Japan and other countries during February 2015 amounted to $85.08 million together as against $82.09 million received in February 2014.

Click here to Download the country-wise worker’s remittances released by Statistics and Data Warehouse Department of SBP.

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