Workers’ remittances rise by 6.26% in FY16

KARACHI: Overseas Pakistani workers remitted $9,735.31 million in the first six months (July to December) of the Financial Year 2015-16, showing a growth of 6.26 % compared with $9,162.16 million received during the same period in the preceding year. During December 2015, the inflow of workers’ remittances amounted to $1637.06 million, which is 2.84 % higher than that in November 2015 and 0.18% higher than that in December 2014.

The country-wise details for the month of December 2015 show that inflows from Saudi Arabia, UAE, USA, UK, GCC countries (including Bahrain, Kuwait, Qatar and Oman) and EU countries amounted to $503.2 million, $341.55 million, $212.1 million, $ 193.72 million, $213.29 million and $37.14 million respectively compared with the inflow of $499.09 million, $355.24 million, $256.08 million, $198.72 million, $ 191.48 million and $30.57 million respectively in December 2014. Remittances received from Norway, Switzerland, Australia, Canada, Japan and other countries during December 2015 amounted to $136.06 million together as against $102.88 million received in December 2014.

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