Workers’ remittances rise 5.2pc to $6.5b in July-Oct

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Overseas Pakistani workers remitted $6.506 billion in the first four months (July to October) of 2015-16 showing a growth of 5.21 percent compared with $6.184 billion received during the same period in the preceding year.

During October 2015, the inflow of worker’s remittances amounted to $1.540 billion, which is 13.28 percent higher than September 2015 and 9.28 percent higher than October 2014.

The country-wise details for the month of October 2015 show that inflows from Saudi Arabia, UAE, USA, UK, GCC countries (including Bahrain, Kuwait, Qatar and Oman) and EU countries amounted to $464.53 million, $367.37 million, $188.26 million, $197.56 million, $178.09 million and $31.56 million respectively compared with the inflow of $374.65 million, $320.91 million, $226.04 million, $193.45 million, $154.84 million and $30.54 million respectively in October 2014.

Remittances received from Norway, Switzerland, Australia, Canada, Japan and other countries during October 2015 amounted to $112.59 million together as against $108.79 million received in October 2014.