China’s FDI in Pakistan soars to $72.7 million in September 2023
In September, Pakistan obtained $72.7 million in foreign direct investment (FDI) from China, contributing to a total of $126.3 million in FDI for the first three months of the 2023-24 financial year. During the same month, Pakistan also received remittances of $84.4 million from China, resulting in a net income of $72.7 million after accounting for remittances sent from Pakistan to China. China’s FDI share in Pakistan for September was 46.66% of the total FDI that month, which amounted to $155.8 million. Over the first three months of the financial year, China’s FDI constituted 30.65% of the total $412 million in FDI received by Pakistan, marking a 28.9% increase compared to the previous fiscal year.
Pakistan received foreign direct investment (FDI) of $72.7 million from China in September, contributing to a total of $126.3 million in the overall FDI during the first three months of the financial year 2023-24 from the friendly neighbouring country.
Citing the latest statistics issued by the State Bank of Pakistan (SBP), Gwadar Pro, a non-governmental organisation, indicated that in September, Pakistan received remittances worth $84.4 million from China, while remittances from Pakistan to China amounted to $11.7 million, resulting in a net income of $72.7 million.
The Gwadar Pro’s report stated that in September, China’s share in Pakistan’s total FDI was 46.66%, as the total FDI in the country in that month remained at $155.8 million.
Similarly, during the first three months (July to September) of the financial year 2023-24, Pakistan received $126.3 million in FDI from China of a total of $412 million in FDI, representing 30.65% of the total FDI.
According to the SBP data, the total FDI in Pakistan during the first three months of the fiscal year 2023-24 was $412 million, marking a significant increase of 28.9% compared to the same period of the previous fiscal year.
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