Workers’ remittances rise 7.5% to $8bn in the first five months of FY16

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Overseas Pakistani workers remitted $8.098 billion in the first five months (July to November) of 2015-16, showing a growth of 7.57 per cent compared with $7.528 billion received during the same period in the preceding year.

During November 2015, the inflow of workers’ remittances amounted to $1,591.75 million, which was 3.36 per cent higher than October 2015 and 18.45 per cent higher than November 2014.

The country wise details for the month of November 2015 show that inflows from Saudi Arabia, UAE, USA, UK, GCC countries (including Bahrain, Kuwait, Qatar and Oman) and EU countries amounted to $487.28 million, $349.83 million, $231.28 million, $188.88 million, $189.43 million and $29.42 million respectively compared with the inflow of $429.09 million, $272.87 million, $189.95 million, $163.7 million, $152.45 million and $24.53 million respectively in November 2014. Remittances received from Norway, Switzerland, Australia, Canada, Japan and other countries during November 2015 totaled $115.63 million compared with $111.17 million received in November 2014.