Home remittances by overseas Pakistanis registered a growth of 40.45 percent with an amount of $1.31 billion in August, 2011, against $933.06 million of August 2010, reflecting a tremendous jump of $377.41 million. The previous highest amount remitted in a single month by overseas Pakistani workers was $1.104 billion in June 2011.
This was the sixth consecutive month with over $1 billion remittances. The amounts received in March, April, May, June and July 2011 respectively were $1.052 billion, $1.030 billion, $1.049 billion, $1.104 billion and 1.096 billion.
The remittances received from different countries showed impressive growth during last month. In August 2011, the inflow of remittances from Saudi Arabia, UAE, USA, UK, GCC countries (including Bahrain, Kuwait, Qatar and Oman), and EU countries amounted to $309.79 million, $294.46 million, $263.58 million, $163.90 million, $134.31 million and $42.38 million respectively as compared with the inflow of $205.56 million, $212.56 million, $186.82 million, $108.29 million, $108.54 million and $29.14 million respectively in August, 2010. Remittances received from Norway, Switzerland, Australia, Canada, Japan and other countries during the second month of current fiscal year (August FY12) amounted to $102.05 million as against $82.15 million received in the second month of last fiscal year (August FY11).
Pakistani workers remitted $2,406.78 million in the first two months (July, August) of the current fiscal year 2011-12 (FY12), showing an impressive growth of 39.58 percent or $682.54 million when compared with $1,724.24 million received during the same period of last fiscal year (July- August 2010).
The inflow of remittances in July- August, 2011 from Saudi Arabia, UAE, USA, UK, GCC countries (including Bahrain, Kuwait, Qatar and Oman), and EU countries amounted to $601.62 million, $552.11 million, $458.45 million, $282.45 million, $250.76 million and $74.97 million respectively as compared with the inflow of $400.50 million, $389.59 million, $330.68 million, $193.86 million, $209.79 million and $52.99 million respectively in July- August 2010. Remittances received from Norway, Switzerland, Australia, Canada, Japan and other countries during the first two months of current fiscal year (July- August FY12) amounted to $186.42 million as against $146.83 million received in the first two months of last fiscal year (July- August FY11).