Remittances slightly decline in 1st month of FY17

Amanullah Khan

Karachi—Overseas Pakistani workers remitted $1328.18 million in the first month (July) of FY17 indicating a slight decline compared with $1663.61 million received during the same period in the preceding year. During July 2016, the inflow of worker’s remittances amounted to $1328.18 million, which is 36 per cent less than June 2016 and 20.16 per cent less than July 2015.
The country wise details for the month of July 2016 show that inflows from Saudi Arabia, UAE, USA, UK, GCC countries (including Bahrain, Kuwait, Qatar and Oman) and EU countries amounted to $378.69 million, $293.72 million, $169.68 million, $143.61 million, $169.61 million and $35.74 million respectively compared with the inflow of $474.42 million, $367.51 million, $255.32 million, $232.33 million, $197.86 million and $32.5 million respectively in July 2015. Remittances received from Norway, Switzerland, Australia, Canada, Japan and other countries during July 2016 amounted to $137.13 million together as against US $103.67 million received in July 2015.

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