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

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Overseas Pakistani workers remitted US $ 16632.76 million in the first 11 months (July to May) of FY15 showing a significant growth of 16 per cent 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 per cent higher than April 2015 and 15.46 per cent 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.