Overseas Pakistanis remit $17.5 billion in first eleven months of FY2016-17

KARACHI: Overseas Pakistani workers remitted US$ 17463.62 million from July to May in Fiscal Year 2016-17, compared with US$17843.68 million, received during the same period in the preceding year.

The inflow of workers’ remittances during May 2017 amounted to US$ 1867.34 million, which was 21.36% higher than April 2017 and 3.77% higher than May 2016.

The country wise details for the month of May 2017 show that inflows from Saudi Arabia, UAE, USA, UK, GCC countries (including Bahrain, Kuwait, Qatar and Oman) and EU countries amounted to US$ 514.5 million, US$ 427.25 million, US$ 248.88 million, US$ 239.2 million, US$ 209.95 million and US$ 51.19 million respectively, compared with the inflow of US$ 547.77 million, US$ 380.74 million, US$ 202.1 million, US$ 240.62 million, US$ 216.71 million and US$ 41.64 million respectively in May 2016.

Remittances received from Norway, Switzerland, Australia, Canada, Japan and other countries during May 2017 amounted to US$176.37 million together as against US$169.85 million received in May 2016.