Overseas Pakistanis Sent Billions Home in Five Months

November, Overseas Pakistanis in UAE, USA, UK, Saudi Arabia, GCC countries and EU states sent $236.29 million, $175.82 million, $155.13 million, $334.10 million, $128.18 million and 29.84 million respectively

According to a report by State Bank of Pakistan (SBP) on Tuesday, the overseas Pakistanis from different countries such as Saudi Arabia, United Arab Emirates (UAE), United States of America (USA), England and other European Union (EU) States and other Gulf Cooperation Countries (GCC) (including Qatar, Kuwait, Bahrain and Oman) recorded remittances of $1.794 Billion, $1.297 billion, $1.026 billion, $962.76 million, $732.64 million and $179.14 million respectively. However during the past 17 months, from July 2012-November 2013, the remittances recorded were $1.609 billion, $1.241 billion, $993.57 million, $845.86 million, $676.69 million and $161.16 million respectively.

Apart from gulf and EU countries, remittances from Canada, Australia, Japan, Switzerland, Norway and other countries amounted to $415.37 million during the first five months of the current fiscal year compared to $454.69 million in the first five months of the previous year.

In the last month alone, i.e. November, Overseas Pakistanis in UAE, USA, UK, Saudi Arabia, GCC countries and EU states sent $236.29 million, $175.82 million, $155.13 million, $334.10 million, $128.18 million and 29.84 million respectively. Whereas, in last year November the remittances were recorded as $193.79 million, $152.29 million, $148.53 million, $300.84 million, $117.18 million and $26.63 million respectively. Remittances submitted by Pakistanis in other countries amounted to $71.76 million.