Overseas Pakistanis remit US $3.5 billion in July, August

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By Muhammad Luqman
Overseas Pakistani workers remitted US $3496.13 million in the first two months of Fiscal Year 2017-18 as compared to US $3089.02 million received during the same period in the preceding year.
According to State Bank of Pakistan, during August, the inflow of worker’s remittances amounted to US $ 1954.46 million, which is 26.78% higher than July 2017 and 11% higher than August 2016. The country wise details for the month of August 2017 show that inflows from Saudi Arabia, UAE, USA, UK, GCC countries (including Bahrain, Kuwait, Qatar and Oman) and EU countries amounted to US $511.28 million, US $440.38 million, US $260.34 million, US $249.14 million, US $230.22 million and US $62.75 million respectively compared with the inflow of US $507.26 million, US $401.18 million, US $223.7 million, US $192.64 million, US $222.57 million and US $43.5 million respectively in August 2016.
Remittances received from Norway, Switzerland, Australia, Canada, Japan and other countries during August 2017 amounted to US $200.35 million together as against US $169.99 million received in August 2016.

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