Unprecedented rise in remittances- FY2016 receive $19.9b

Amanullah Khan

Karachi—The workers’ remittances raised 6.38 per cent to $19.9 billion in the fiscal year 2016. According to State Bank of Pakistan, the overseas Pakistani workers remitted $19914.60 million in fiscal year 2016, showing a growth of 6.38 per cent compared with $18719.80 million received during FY15. It said that during June 2016, the inflow of workers’ remittances amounted to $2072.97 million.
The country wise details for the month of June 2016 show that inflows from Saudi Arabia, UAE, USA, UK, GCC countries (including Bahrain, Kuwait, Qatar and Oman) and EU countries amounted to $582.84 million, $434.90 million, $274.01 million, $309.27 million, $232.27 million and $50.31 million respectively compared with the inflow of $536.68 million, $423.24 million, $258.95 million, $247.96 million, $209.66 million and $34.36 million respectively in June 2015. Remittances received from Norway, Switzerland, Australia, Canada, Japan and other countries during June 2016 amounted to $189.37 million together as against $110.63 million received in June 2015.

Share this post

PinIt
    scroll to top