Overseas Pakistanis remit US$9.7bn in first 6 months of FY18

KARACHI: The overseas Pakistani workers remitted US $9,744.75 million in the first six months (July to December) of fiscal year 2018 (FY18), compared with US $ 9,505.11 million received during the same period in the preceding year.

An announcement to this effect was made by the State Bank of Pakistan (SBP) on Wednesday.       It said that during December 2017, the inflow of workers' remittances amounted to US $ 1,723.57 million, which is 9.31% higher than November 2017 and 8.72% higher than December 2016.

The country wise details for the month of December 2017 show that inflows from Saudi Arabia, UAE, USA, UK, GCC countries (including Bahrain, Kuwait, Qatar and Oman) and EU countries amounted to US $431.97 million, US $396.74 million, US $234.76 million, US $223.3 million, US $188.76 million and US $54.87 million respectively compared with the inflow of US $475.75 million, US $339.95 million, US $182.19 million, US $181.85 million, US $203.63 million and US $35.09 million respectively in December 2016.

Remittances received from Norway, Switzerland, Australia, Canada, Japan and other countries during December 2017 amounted to US $193.17 million together against dollars 166.91 received in December 2016.