Overseas Pakistani workers remit US$19.3bn in FY17

KARACHI: The Overseas Pakistani workers remitted US$ 19,303.58 million in the fiscal year 2017 (FY 17) (July to June), compared with US$ 19,916.76 million received during the same period in the preceding year, a State Bank of Pakistan (SBP) statement said here on Monday.

It said that during June 2017, the inflow of workers' remittances amounted to US$ 1,839.96 million, which is 1.46% lower than May 2017 and 11.24% lower than June 2016.

The country wise details for the month of June 2017 show that inflows from Saudi Arabia, UAE, USA, UK, GCC countries (including Bahrain, Kuwait, Qatar and Oman) and EU countries amounted to US$ 438.07 million, US$ 414.22 million, US$ 265.37 million, US$ 252.46 million, US$ 232.89 million and US$ 56.97 million respectively compared with the inflow of US$ 582.84 million, US$ 434.9 million, US$ 274.1 million, US$ 309.27 million, US$ 232.27 million and US$ 50.33 million respectively in June 2016.

Remittances received from Norway, Switzerland, Australia, Canada, Japan and other countries during June 2017 amounted to US$ 179.98 million together as against US$ 189.37 million received in June 2016.