Home remittances sent by overseas Pakistanis posted a healthy growth of 16 percent during the first 11 months of this fiscal year. According to the State Bank of Pakistan (SBP) overseas Pakistani workers remitted $16.63 billion in the first 11 months (July to May) of FY15, showing a significant growth of $2.3 billion or 16 percent compared with $14.34 billion received during the same period in the preceding year.
During May 2015, the inflow of worker's remittances amounted to $1.66 billion, which is 1.37 percent higher than April 2015 and 15.46 percent higher than May 2014. The country-wise details for May 2015 show that inflows from Saudi Arabia, UAE, USA, UK, GCC countries (including Bahrain, Kuwait, Qatar and Oman) and EU countries amounted to $528.34 million, $399.35 million, $221.1 million, $194.15 million, $190.66 million and $28.5 million respectively compared with the inflow of $451.14 million, $290.91 million, $216.84 million, $181.04 million, $164.01 million and $39.06 million, respectively in May 2014. Remittances received from Norway, Switzerland, Australia, Canada, Japan and other countries during May 2015 amounted to $101.0 million together against $97.47 million received in May 2014.
Comments
Comments are closed.