Workers' remittances rise 4pc to $ 14.2bn in 9 months

12 Apr, 2016

KARACHI: Overseas Pakistani workers remitted dollars 14157.65 million in the first nine months (July to March) of fiscal year 2015-16, showing a growth of 4.14 % against $ 13594.95 million received during the same period in the preceding year.

During March 2016, the inflow of workers' remittances amounted to $ 1468.76 million, which is 3.14% lower than February 2016 and 8.69% lower than March 2015, said a statement issued by State Bank of Pakistan here on Tuesday.

The country wise details for the month of March 2016 show that inflows from Saudi Arabia, United Arab Emirates (UAE), United States of America (USA), United Kingdom, GCC countries (including Bahrain, Kuwait, Qatar and Oman) and European Union countries amounted to $ 506.05 million, $ 320.3 million, $ 183.92 million, $ 157.28 million, $ 153.75 million and $ 26.54 million respectively compared to the inflow of $ 489.7 million, $ 414.97 million, $ 211.6 million, $ 176.13 million, $ 198.46 million and $ 26.14 million respectively in March 2015.

Remittances received from Norway, Switzerland, Australia, Canada, Japan and other countries during March 2016 amounted to $ 120.92 million together as against $ 91.51 million received in March 2015.

Copyright APP (Associated Press of Pakistan), 2016

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