July-January workers remittances slip

Workers remittances slightly declined by 2 percent during the first seven months of this fiscal year (FY17). Overseas Pakistani workers remitted $10.946 billion in first seven months (July to January) of FY17, compared with $11.155 billion received during the same period in the preceding year, depicting a decline of $209 million. During January 2017, the inflows of workers'' remittances amounted to $1.488 billion, which is 6 percent lower than December 2016 and 1.45 percent higher than January 2016.
The country-wise details for January 2017 show that inflows from Saudi Arabia, UAE, USA, UK, GCC countries (including Bahrain, Kuwait, Qatar and Oman) and EU countries amounted to $434.15 million, $323.11 million, $175.01 million, $180.91 million, $186.41 million and $31.69 million, respectively compared with the inflow of $463.44 million, $314.4 million, $168.94 million, $174.48 million, $192.10 million and $31.94 million, respectively in January 2016. Remittances received from Norway, Switzerland, Australia, Canada, Japan and other countries during January 2017 amounted to $156.44 million together against $121.08 million received in January 2016.