Overseas remittances rise 638 to US 199 billion FY16

ISLAMABAD: Overseas Pakistani workers remitted US$19914.60 million in Fiscal Year 2016, showing a growth of 6.38% compared with US$18719.80 million received during Fiscal Year 2015.According to the State Bank of Pakistan, during June 2016, the inflow of workers’ remittances amounted to US$2072.97 million.The country wise details for the month of June 2016 show that inflows from Saudi Arabia, UAE, USA, UK, GCC countries (including Bahrain, Kuwait, Qatar and Oman) and EU countries amounted to US$582.84 million, US$434.90 million, US$274.01 million, US$309.27million, US$232.27 million and US$50.31 million respectively compared with the inflow of US$536.68 million, US$423.24 million, US$258.95 million, US$247.96 million, US$209.66 million and US$ 34.36 million respectively in June 2015.Remittances received from Norway, Switzerland, Australia, Canada, Japan and other countries during June 2016 amounted to US$189.37 million together as against US$110.63 million received in June 2015.