Repatriation of profit surges to $532.2m in 5MFY24

December 27, 2023 (MLN): Repatriation of profit and dividends by foreign investors soared by around 4x YoY in 5MFY24 to $532.2 million compared to $129m worth of repatriation 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 $491.3m worth of profit against the foreign direct investments (FDI) in various businesses compared to $102.9m in SPLY, marking an increase of around 4.8x YoY.

The outflow as payment against portfolio investment stood at $40.9m, compared with $26.2m in the same period a year earlier, witnessing a growth of 56% YoY in 5MFY24.

Meanwhile, in the month of November 2023 alone, repatriation of profits and dividends by foreign firms stood at $46.8m, down 82.8% MoM.

Sector-wise

The data shows that the major sectors that repatriated relatively higher profits include the Petroleum Refining, Food, Transport, Financial Business, Power, and Transport Equipment (Automobiles) sectors.

Among these, Petroleum Refining sector repatriated the highest profits worth $78.2m in 5MFY24.

The data further revealed that Profit outflows from the Food sector amounted to $68.6m in 5MFY24 to overseas.

Moreover, transport sector fetched a net of $68.4m as profit during July-November FY24 as profit.

Profits outflow from the Financial Business sector was recorded at $58.1m in 5MFY24.

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