Overseas Pakistanis remit US$8bn in 1st five months of FY18

KARACHI: The Overseas Pakistani workers remitted US $ 8021.18 million in the first five months (July to November) of FY18, compared with US $ 7919.74 million received during the same period in the preceding year.

A State Bank of Pakistan (SBP) announcement here on Monday said that during November 2017, the inflow of workers remittances amounted to US $ 1576.72 million, which is 4.7% lower than October 2017 and 2.6% lower than November 2016.

The country wise details for the month of November 2017 show that inflows from Saudi Arabia, UAE, USA, UK, GCC countries (including Bahrain, Kuwait, Qatar and Oman) and EU countries amounted to US $ 409.52 million, US $ 352.64 million, US $ 204.28 million, US $ 213.47 million, US $ 191.83 million and US $49.06 million respectively compared with the inflow of US $465.19 million, US $362.82 million, US $194.04 million, US $192.8 million, US $193.12 million and US $37.03 million respectively in November 2016.

Remittances received from Norway, Switzerland, Australia, Canada, Japan and other countries during November 2017 amounted to US $155.92 million together as against $ 173.35 million received in November 2016.