Remittance grow by 8.2pc in five years

News Image

By MG News | January 22, 2018 at 12:58 PM GMT+05:00

0:00

The remittances sent by the Overseas Pakistanis working abroad during the last five years witnessed an aggregate annual growth of 8.2 percent during the last five years (2013-2017), officials sources said.

The remittances during 2012-13 increased by 5.6 percent to $13.921 billion while in 2013-14, the remittances were recorded at $15.838 million, showing growth of 13.8 percent.

Similarly, the sources added that during 2014.15, the remittances witnessed growth of 18.2 percent to $18.720 billion, according to official data.

The data further revealed that during 2015-16, the remittance touched $19.915 figure by posting growth of 6.4 percent, however during the fiscal year 2016-17, the remittances witnessed negative growth of 2.8 percent by falling to $19.351 billion.

As evident from the data, the highest growth of 18.2 percent was witnessed in year 2014-15 followed by 13.8 percent in 2013-14; 6.4percent  in 2015-16 and 5.6 percent in 2012-13 while the lowest growth of -2.8 percent was witnessed during last fiscal year (2016-17), the data revealed.

Meanwhile, the overseas Pakistanis sent remittances amounting to $9.7 billion in the first half of 2017-18, showing growth of 2.5 per cent from the same period of the previous fiscal year, according to State Bank of Pakistan. Remittances from all important destinations, except Saudi Arabia, showed a positive growth.

During December 2017, the inflow of worker’s remittances amounted to US $1723.57 million, which is 9.31% higher than November 2017 and 8.72% higher than December 2016, according to SBP data.

Related News

Name Price/Vol %Chg/NChg
KSE100 130,686.66
280.01M
0.26%
342.63
ALLSHR 81,305.25
897.01M
0.35%
281.26
KSE30 39,945.45
114.02M
0.09%
37.19
KMI30 190,698.05
148.61M
0.61%
1163.05
KMIALLSHR 55,074.15
495.43M
0.53%
290.50
BKTi 34,568.40
28.73M
-1.07%
-372.33
OGTi 28,739.35
22.59M
1.57%
443.29
Symbol Bid/Ask High/Low
Name Last High/Low Chg/%Chg
BITCOIN FUTURES 110,180.00 110,525.00
110,105.00
-235.00
-0.21%
BRENT CRUDE 68.80 68.89
68.73
0.00
0.00%
RICHARDS BAY COAL MONTHLY 97.50 0.00
0.00
-0.75
-0.76%
ROTTERDAM COAL MONTHLY 108.45 109.80
108.45
-0.55
-0.50%
USD RBD PALM OLEIN 998.50 998.50
998.50
0.00
0.00%
CRUDE OIL - WTI 67.05 67.18
66.99
0.05
0.07%
SUGAR #11 WORLD 16.37 16.40
15.44
0.79
5.07%

Chart of the Day


Latest News
July 03, 2025 at 10:04 PM GMT+05:00

SBP reserves rise around to $13bn


July 03, 2025 at 05:39 PM GMT+05:00

Gold price in Pakistan rises Rs800 per tola


July 03, 2025 at 05:17 PM GMT+05:00

Microsoft exits Pakistan after 25 years


July 03, 2025 at 04:43 PM GMT+05:00

Privatisation Commission approves advisors for ZTBL


July 03, 2025 at 04:11 PM GMT+05:00

PSX Closing Bell: Holding Ground



Top 5 things to watch in this week

Pakistan Stock Movers
Name Last Chg/%Chg
Name Last Chg/%Chg