Comment by Riaz Haq on November 9, 2018 at 7:29am

Overseas #Pakistanis remit $7.4 billion in first 4 months of FY19. During October 2018, the inflow of worker’s #remittances amounted to $2,000.47 million, which is 37.7% higher than September 2018 and 20.9% higher than October 2017. #CAD #IMF #Pakistan https://www.thenews.com.pk/latest/391754-overseas-pakistanis-remit-...

Overseas Pakistani workers remitted $7419.98 million in the first four months (July to October) of FY19, compared with $6,444.46 million received during the same period in the preceding year.

During October 2018, the inflow of worker’s remittances amounted to $2000.47 million, which is 37.7% higher than September 2018 and 20.9% higher than October 2017.

The country wise details for the month of October 2018 show that inflows from Saudi Arabia, UAE, USA, UK, GCC countries (including Bahrain, Kuwait, Qatar and Oman) and EU countries amounted to $494.53 million, $412 million, $308.78 million, $298.80 million, $198.30 million and $57.36 million respectively compared with the inflow of $461.07 million, $333.57 million, $215.64 million, $270.46 million, $184.76 million and $51.12 million respectively in October 2017.

Remittances received from Malaysia, Norway, Switzerland, Australia, Canada, Japan and other countries during October 2018 amounted to $230.68 million together as against $137.83 million received in October 2017.

Comment by Akhtar Hussain on November 10, 2018 at 12:58am

Amazing, finally we are seeing positive economic news from Pakistan.  Peace, security and accountability are taking hold. Tighter controls on banking and money transfers have helped. 

Thanks.

~ Akhtar

Comment by Riaz Haq on November 13, 2018 at 7:42am

According to the State Bank of Pakistan (SBP), adverse movement in global oil prices, coupled with strong demand for industrial raw materials – metals and allied products – was mainly responsible for the higher imports. Resultantly, the country’s balance of payments came under severe strain during the past year.

In FY18, Pakistan witnessed a record trade deficit of US$ 37.6 billion; 15.7 percent higher from last year. The broad-based and quantumled rebound in exports – after consecutive declines over the last three years – was overshadowed by surging imports, which almost touched the US$ 61.0 billion mark.

However, the overall exports in first four months of FY19 increased by 3.52 percent to $7.38 billion as compared to $ 7.13 billion worth of goods exported in corresponding period of previous fiscal year. Imports in first four months of FY19 remained intact, going up by 0.06 percent to $ 19.17 billion as against $ 19.16 billion in the same period of FY18.

Pakistan’s trade account is showing early signs of improvement under the spirit of the new economic policy as country’s trade deficit in first four months of current fiscal fell to $ -11.8 billion from the $ -12.1 billion reported in corresponding period of last fiscal, official data showed on Monday.

https://dailytimes.com.pk/321451/pakistans-trade-balance-improving-...

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