Repatriation of profit plunges by 80.30% YoY in FY23

MG News | July 26, 2023 at 05:36 PM GMT+05:00

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July 26, 2023 (MLN): Repatriation of profit and dividends by foreign investors plummeted by around 80.30% YoY in FY23 to $331 million compared to $1.68 billion in the same period last year, the latest data issued by the central bank revealed.

The data further revealed that during the period, foreign companies repatriated $267.5m worth of profit against the foreign direct investments (FDI) in various businesses compared to $1.52bn in SPLY, marking a plunge of around 84.08% YoY in FY23.

While the outflow as payment against portfolio investment stood at $63.5m, compared with $156.2m in the same period a year earlier, witnessing a drop of 59.36% YoY in 12MFY23.

In the month of June 2023, repatriation of profits and dividends by foreign firms stood at $17.9m, marking a decline of 69.69% MoM, with respect to $59.7m in May 2023.

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