WEDNESDAY JANUARY 11: July-December remittances rise by 19.54 percent

KARACHI: Overseas Pakistanis remitted $6.325 billion in the first half (July-December 2011) of the current fiscal year 2011-12 (FY12), showing an increase of $1.034 billion, or 19.54 percent, when compared with $5.291 billion of July-December 2010.
The remittances in July-December, 2011 from Saudi Arabia, UAE, USA, UK, GCC countries (including Bahrain, Kuwait, Qatar and Oman) and EU countries amounted to $1.661 billion, $1.413 billion, $1.15 billion, $726.35 million, $721.19 million, and $189.14 million respectively as compared with the inflow of $1,143.82 million, $1,255.65 million, $997.68 million, $577.17 million, $626.29 million and $172.10 million respectively in July-December 2010.
Remittances received from Norway, Switzerland, Australia, Canada, Japan and other countries during the first half of current fiscal year (July-December 2011) amounted to $463.61 million as against $518.69 million received in the first half of last fiscal year (July- December 2010). The monthly average remittances for the July-December 2011 period come out to $1.054 billion as compared to $881.91 million during the same corresponding period of the last fiscal year, registering an increase of 19.54 percent.
In December, 2011 $1.085 billion was sent home by overseas Pakistanis, up 25.75 percent, when compared with $863.13 million received in the same month of December, 2010. In December 2011, the inflow of remittances from Saudi Arabia, UAE, USA, UK, GCC countries (including Bahrain, Kuwait, Qatar and Oman) and EU countries amounted to $297.53 million, $245.67 million, $175.12 million, $132.05 million, $121.15 million and $28.88 million respectively as compared with the inflow of $208.06 million, $210.33 million, $156.36 million, $81.08 million, $95.99 million and $24.53 million respectively in December, 2010. Remittances received from Norway, Switzerland, Australia, Canada, Japan and other countries during December 2011 amounted to $84.95 million as against $86.76 million received in the same month (December 2010) of last fiscal year.