Pakistan declared Asia’s 4th largest remittance receiver by ADB

Pakistan stands behind India, China and Philippines.

 

According to the Asian Development Bank’s (ADB) 50th edition of an annual statistical report called, Pakistan is among the top 5 Asian remittance receivers. The statistics were revealed by ADB’s report “Key Indicators for Asia and the Pacific 2019”, and an online database, “Key Indicators Database”.

As the Asian Development Bank (ADB) reveals, Pakistan is the fourth largest remittance receiver in the year 2018 in the continent, only behind India, China, and the Philippines.

The figures for the top 5 receivers stood at:

  •  India ($78.6 billion)
  • China ($67.4 billion)
  • Philippines ($33.8 billion)
  • Pakistan ($21.0 billion)
  • Vietnam ($15.9 billion)

ADB has also declared Pakistan among the countries that have received the highest amount of technical and financial assistance. The top three countries in terms of annual financial and technical assistance were :

  1. Afghanistan ($1.405 billion)
  2. Indonesia ($1.310 billion)
  3. Pakistan ($894 million).

“From 2000–2008 to 2009–2017, the value of average financial and technical assistance more than doubled in 14 of the 41 reporting economies,” the ADB report said.

”In absolute terms, the largest increases occurred in Afghanistan ($843 million), Indonesia ($669 million), and Pakistan ($529 million).”

Pakistan’s poverty ratio declined to 24.3 percent in 2015 compared to 64.3 percent in 2001:

The report further speaks on Pakistan’s declining poverty ratio. According to the National Poverty Line, the country’s poverty ratio has fallen from a gigantic 64.3 percent to an optimistic 24.3 percent.

Furthermore, Urban poverty has also decreased from 50% in 2001 to 12.5% in 2015. On the other hand, rural poverty has decreased from 70% in 2001 to 30 percent in 2015. People living in extreme poverty have decreased from 1.1 billion in 2002 to 264 million in 2015 in the Pacific and Asia.

Pakistan is along among the top ten countries in the region that receives the most bribe requests.

”A quarter of Pakistani firms receive at least one bribe payment request, preceded by Mongolia, Tajikistan, Lao PDR, Solomon Islands, Timor-Leste, Afghanistan, Bangladesh, Kyrgyz Republic, and Cambodia,” the report stated.


Also See: ADB, Pakistan Prepare 5-Year Country Partnership Strategy For 2020-24

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