March Remittances increase by 22.24 percent to reach $ 1.772 billion

MG News | April 10, 2018 at 04:44 PM GMT+05:00

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According to data released by the State Bank of Pakistan, inflow of remittances during the month of March jumped by 22.24 percent reaching $ 1.772 billion up from $1.450 billion in February, 2018.

(Million US Dollar)
Month on Month % Change – Remittances
Country	March, 2018	February, 2018	% Change
USA	236.17	207.27	13.94%
UK	244.20	201.01	21.49%
Saudi Arabia	427.62	348.31	22.77%
UAE	420.24	332.18	26.51%
Other GCC Countries	183.79	149.40	23.02%
EU	58.89	48.65	21.05%
Malaysia	116.09	94.24	23.19%
Total	1,772.77	1,450.17	22.25%

Year on year, the remittances jumped up by more than 4.6 percent up from $1.694 billion against March last year.

(Million US Dollar)
Year on Year % Change – Remittances
Country	March, 2018	March, 2017	% Change
USA	236.17	213.42	10.66%
UK	244.20	209.14	16.76%
Saudi Arabia	427.62	504.61	-15.26%
UAE	420.24	362.94	15.79%
Other GCC Countries	183.79	197.21	-6.80%
EU	58.89	38.85	51.58%
Malaysia	116.09	90.26	28.62%
Total	1,772.77	1,694.49	4.62%

During the cumulative period of first three quarters of fiscal year 2018 total remittances reached a sum of $ 14.105 billion up by 3.55 percent against $ 14.387 billion during the first nine months of fiscal year 2017.

(Million US Dollar)
(July – March) Year on Year % Change – Remittances
	July – March Amount	YOY Growth
Country	FY ‘18	FY ‘17	FY ‘18
USA	1,948.00	1,738.84	12.03%
UK	2,030.62	1,658.34	22.45%
Saudi Arabia	3,690.57	4,078.11	-9.50%
UAE	3,264.73	3,143.21	3.87%
Other GCC Countries	1,648.13	1,707.46	-3.47%
EU	478.89	332.63	43.97%
Malaysia	820.30	799.03	2.66%
Total	14,606.41	14,105.03	3.55%

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