Remittances rise 6.26 % to US $9.7bn in first six months

Karachi: State Bank of Pakistan (SBP) Monday said the overseas Pakistani workers remitted US $ 9735.31 million in the first six months (July to December) of FY16, showing a growth of 6.26 % compared with US $ 9162.16 million received during the same period in the preceding year.

During December 2015, the inflow of workers’ remittances amounted to US $1637.06 million, which is 2.84 % higher than that in November 2015 and 0.18% higher than that in December 2014.

The country wise details for the month of December 2015 show that inflows from Saudi Arabia, UAE, USA, UK, GCC countries (including Bahrain, Kuwait, Qatar and Oman) and EU countries amounted to US $503.2 million, US $341.55 million, US $212.1 million, US $ 193.72 million, US $213.29 million and US $37.14 million, respectively, compared with the inflow of US $ 499.09 million, US $355.24 million, US $256.08 million, US $198.72 million, US $ 191.48 million and US $30.57 million, respectively, in December 2014.

Remittances received from Norway, Switzerland, Australia, Canada, Japan and other countries during December 2015 amounted to US $136.06 million together as against US $102.88 million received in December 2014.