Workers’ remittances down to $19.3bn in 2016/2017

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KARACHI: State Bank of Pakistan (SBP) has received $19.3 billion as workers’ remittances during fiscal year 2016/2017 as against $19.91 billion in the preceding fiscal year, showing 3 percent decline, the central bank said on Monday.
The SBP said that during June 2017, the inflow of worker’s remittances amounted to $1839.96 million, which is 1.46 percent lower than May 2017 and 11.24 percent lower than June 2016.
The country wise details for the month of June 2017 show that inflows from Saudi Arabia, UAE, USA, UK, GCC countries (including Bahrain, Kuwait, Qatar and Oman) and EU countries amounted to US$ 438.07 million, US$ 414.22 million, US$ 265.37 million, US$ 252.46 million, US$ 232.89 million and US$ 56.97 million respectively compared with the inflow of US$ 582.84 million, US$ 434.9 million, US$ 274.1 million, US$ 309.27 million, US$ 232.27 million and US$ 50.33 million respectively in June 2016. Remittances received from Norway, Switzerland, Australia, Canada, Japan and other countries during June 2017 amounted to US$179.98 million together as against US$189.37 million received in June 2016.

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