Remittances rise by 6.25pc in July-Dec

January 12, 2016

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KARACHI: Remittances from overseas Pakistanis grew by 6.25 per cent to $9.735 billion during the first six months (July-Dec) of 2015-16 from $9.162bn in the same period last year.

During December, the inflow of workers’ remittances amounted to $1.637bn, around 2.84pc higher than November 2015 and 0.18pc than December 2014, said a statement issued by the SBP on Monday.

The country-wise details showed that during December 2015, inflows from Saudi Arabia, the United Arab Emirates (UAE), the United States, the United Kingdom, GCC countries (including Bahrain, Kuwait, Qatar and Oman) and EU countries amounted to $503.2 million, $341.55m, $212.1m, $193.72m, $213.29m and $37.14m, respectively.

Remittances received from Norway, Switzerland, Australia, Canada, Japan and other countries during the month collectively amounted to $136.06m as compared to $102.88m in December 2014.

Published in Dawn, January 12th, 2016