Workers’ remittances rise 6.38% to $19.9bn in 2015-16

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The country received an amount of $19.915 billion in remittances from various countries during the last fiscal year (2015-16), up by 6.38 per cent compared with $18.720 billion received during the same period of last year.

According to the State Bank of Pakistan (SBP), “Overseas Pakistani workers remitted $19.915 billion in 2015-16, showing a growth of 6.38 per cent compared with $18.720 billion received during 2014-15.”

“During June 2016, the inflow of workers’ remittances amounted to $2.073 billion, the SBP said. The country wise details for the month of June 2016 show that inflows from Saudi Arabia, UAE, USA, UK, GCC countries (including Bahrain, Kuwait, Qatar and Oman) and EU countries amounted to $582.84 million, $434.90 million, $274.01 million, $309.27million, $232.27 million and $50.31 million respectively compared with the inflow of $536.68 million, $423.24 million, $258.95 million, $247.96 million, $209.66 million and $ 34.36 million respectively in June 2015.

Remittances received from Norway, Switzerland, Australia, Canada, Japan and other countries during June 2016 amounted to $189.37 million altogether against $110.63 million received in June 2015.