UK observes the highest profit repatriation on foreign investment during Jul-Oct FY20

November 27, 2019 (MLN): Profits and dividends repatriated by countries on foreign total investment during Jul-Oct FY20 stood at $548.1 million, up by 10.27% YoY from $497 million in the same period last fiscal year.

According to the latest data released by State Bank of Pakistan (SBP), The United Kingdom witnessed the highest profit repatriation in Jul-Oct FY20. It repatriated $128.5 million, up by 14.5% YoY. In October 2019, The UK repatriated $41.2 million from Pakistan.

The USA emerged as the second country with high-profit repatriation from Pakistan, as it repatriated $107.9 million, compared with $98.1, depicting the growth of 10% YoY in the aforementioned period. The profit repatriation was recorded at $22.7 million during October 2019.

Third in line is Hong Kong which repatriated $79 million from Pakistan during Jul-Oct FY20 when compared with $16.6 million in the corresponding period of the last fiscal year, signifying the growth of 4.7 times YoY. Profit outflows from Pakistan to Hong Kong in October 2019 stood at $23 million.

Next followed by Switzerland with profit repatriation of $47.4 million, up by 7.09% YoY and China with $44.8 million, showing the escalation of 25% YoY during Jul-Oct FY20.

Interestingly, the profit repatriation by UAE on total foreign investment stood at $23 million, down by 32% YoY from $34.1 million during Jul-Oct FY20.

Copyright Mettis link News

Posted on: 2019-11-27T17:28:00+05:00