Workers’ remittances rise 16pc to $16.6bn in 11 months

June 9, 2015 Off By Web Desk

Karachi: Overseas Pakistani workers remitted US $ 16632.76 million in the first eleven months (July to May) of FY15, showing a significant growth of 16% compared with US $ 14338.38 million received during the same period in the preceding year.

During May 2015, the inflow of worker’s remittances amounted to US $1663.1 million, which is 1.37% higher than April 2015 and 15.46% higher than May 2014. The country wise details for the month of May 2015 show that inflows from Saudi Arabia, UAE, USA, UK, GCC countries (including Bahrain, Kuwait, Qatar and Oman) and EU countries amounted to US $528.34 million, US $399.35 million, US $221.1 million, US $194.15 million, US $190.66 million and US $28.5 million respectively compared with the inflow of US $451.14 million, US $290.91 million, US $216.84 million, US $181.04 million, US $164.01 million and US $39.06 million respectively in May 2014. Remittances received from Norway, Switzerland, Australia, Canada, Japan and other countries during May 2015 amounted to US $101.0 million together as against US $97.47 million received in May 2014.