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Business Pakistan

FY17: Pakistan receives remittance of $7.8bn

In the first five months of FY17 Fiscal year 2017), the overseas Pakistanis remitted $7874.49 million (from July 1, 2016 to the end of November 2016). These figures are 2.45% less than the last Fiscal Year 2016, which were $8072.21 during the same period of time.

The inflow of the workers remittances only in November mounted to $1616.43 million, which is 3.63% higher than October and 3.27% higher than to the same month of the last fiscal year.

The details of the remittances of October 2016 are as following;

  • Saudi Arabia: US $ 465.19 million
  • UAE:  US $ 362.71 million
  • USA: US $193.98 million
  • UK: US $192.8 million
  • GCC countries (including Bahrain, Kuwait, Qatar and Oman): US $193.12 million
  • EU countries: US $37.03 million

Remittances received from Norway, Switzerland, Australia, Canada, Japan and other countries during November 2016 amounted to US $171.60 million together as against US $119.57 million received in November 2015.