The remittances of the country fell by 2.4 per cent to $7.875 billion in the first five months (July-November) of the current fiscal year compared to $8.073 billion received in the same period last year.
However, the gap in the remittances has shrunk in November this year to just $197 million or 2.4 per cent compared to the last year, while it was going above 3-4 per cent down in the previous months of the current fiscal year.
According to the State Bank of Pakistan (SBP) on Friday, the Pakistani workers remitted $7.875 billion in first five months, compared with $8.073 million received during the same period in the preceding year.
During November, 2016, the inflow of worker’s remittances amounted to $1.616 million, which is 3.63 per cent higher than October 2016 and 3.27 per cent higher than November 2015.
The country wise details for November, 2016, show that inflows from Saudi Arabia, UAE, USA, UK, GCC countries (including Bahrain, Kuwait, Qatar and Oman) and EU countries amounted to $465.19 million, $362.71 million, $193.98 million, $192.8 million, $193.12 million and $37.03 million respectively compared with the inflow of $488.29 million, $350.84 million, $192.39 million, $191 million, $191.46 million and $31.64 million respectively in November 2015. The remittances received from Norway, Switzerland, Australia, Canada, Japan and other countries during November, 2016, amounted to $171.60 million together as against $119.57 million received in November 2015.
