Workers' remittances sent by overseas Pakistanis maintained a healthy growth and rose by 16 percent during first nine months of this fiscal year, ie, 2015 (FY15). According to State Bank of Pakistan (SBP), overseas Pakistani workers remitted some $15 billion in July to April of FY15 compared to $12.89 billion in the same period last year, depicting a significant growth of $2.1 billion.
Month-on-month basis, workers remittances posted an increase of 4 percent during April 2015 compared to March 2015. The inflow of workers' remittances amounting to $1.64 billion was received in April 2015, which is also 25 higher than April 2014. Major inflows arrived from Saudi Arabia, UAE, USA, UK, and GCC as most of Pakistanis are working there. The country-wise details for April 2015 reflect that inflows from Saudi Arabia, UAE, USA, UK, GCC countries (including Bahrain, Kuwait, Qatar and Oman) and EU countries amounted to $519.68 million, $395.69 million, $233.85 million, $174.47 million, $190.59 million and $26.87 million, respectively compared to the inflow of $415.09 million, $233.97 million, $206.15 million, $166.07 million, $169.67 million and $36.37 million, respectively in April 2014.
Remittances received from Norway, Switzerland, Australia, Canada, Japan and other countries during April 2015 amounted to $99.43 million together against $84.53 million received in April 2014.
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