March Remittances increase by 22.24 percent to reach $ 1.772 billion

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%

 

Posted on: 2018-04-10T16:44:00+05:00