KARACHI: The remittances sent home by overseas Pakistanis increased by 12.37 percent to $14.33 billion during the first 11 months of the outgoing fiscal year as compared to $12.75 billion in the corresponding period of the last fiscal year, the State Bank of Pakistan (SBP) reported on Wednesday.

The inflows of remittances during July–May 2013-14 from Saudi Arabia, the UAE, US, the UK, other GCC countries, including Bahrain, Kuwait, Qatar and Oman, and the EU states amounted to $4,257.50 million, $2,813.80 million, $2,241.80 million, $1,979.32 million, $1,691.41 million and $394.37 million, respectively, as compared to the inflows of $3,751.55 million, $2,531.57 million, $2,006.28 million, $1,774.07 million, $1,469.70 million and $326.34 million, respectively, in the same period of the last fiscal year.

Remittances received from Norway, Switzerland, Australia, Canada, Japan and other countries during the first 11 months of the current fiscal year amounted to $954.77 million as against $895.86 million received in the first 11 months of the last fiscal year, the central bank said.

The inflows of remittances in May from Saudi Arabia, the UAE, US, the UK, other GCC countries, including Bahrain, Kuwait, Qatar and Oman, and the EU states amounted to $451.14 million, $290.91 million, $214.74 million, $181.04 million, $164.01 million and $39.06 million, respectively, as compared to $379.96 million, $219.56 million, $186.43 million, $162.96 million, $138.03 million and $28.65 million, respectively, in May 2013.

Remittances received from Norway, Switzerland, Australia, Canada, Japan and other countries during May of the current fiscal year amounted to $97.46 million, the SBP added.