RemittancesGateway.org

Remittance to Pakistan Jumps Almost 18 Percent, Over 19 Percent In Bangladesh

Friday, 12 March 2010 14:25

Source: All Headline News

Pakistanis working abroad sent home a record US$5.78 billion in the first eight months of the current fiscal, marking a nearly 18 percent growth over the same period last year.

The remittances from Pakistani nationals working abroad were estimated at $588.89 million in February, a fall of $8.2 percent from the corresponding period of the previous fiscal year, according to central bank statistics released Wednesday.

The monthly average remittances for the July-February period of fiscal 2009-2010 rose to $723.3 million from $614.8 million in the same period of the previous fiscal, the State Bank of Pakistan (SBP), the country's central bank said.

During the same period, Bangladesh received a total of $7.329 billion as remittances, a 19.22 per cent growth over the same period of the last fiscal.

The remittances from Bangladeshi nationals working abroad were estimated at $844.07 million in February, a decline of $108.32 million from the previous month. In January, remittances were worth $952.39 million, according to bank data released last week.

"The total amount of remittances dropped slightly in the month of February over that of the previous month due mainly to fewer working days," a senior official of the Bangladesh Bank (BB), the country's central bank told AHN Media.