Foreign investors repatriate over $694mn from Pakistan in 7 months

In an unprecedented financial trend, Pakistan saw a more than threefold increase in the repatriation of profits and dividends by foreign investors during the first seven months of Fiscal Year 2024, with the total amount reaching $694.28 million compared to $220.48 million in the same period last year, as reported by the central bank.

This surge is highlighted by foreign companies repatriating $639.22 million in profits from direct investments across various sectors, a significant jump from $184.38 million last year. Additionally, portfolio investment outflows also grew, totaling $55.06 million, up 52.51% year-on-year.

January 2024 alone witnessed repatriation of $126.6 million, indicating a robust growth and investor confidence in Pakistan’s market. The leading sectors for profit repatriation included Petroleum Refining, Power, Food, Financial Business, and Transport, with the Petroleum Refining sector alone sending $126.38 million overseas.

On the global front, the United Arab Emirates, the United Kingdom, and China were the top countries repatriating profits, with the UAE leading at $177.5 million, showcasing a significant increase from the previous fiscal year.

This dramatic rise in profit repatriation underscores the growing engagement of international investors with Pakistan’s economy and highlights the profitable returns on their investments.