Overseas Pakistani workers remitted US $ 16.03 billion in the first ten months (July to April) of FY16, showing a growth of 5.25% compared with US $ 15.24 billion received during the same period in the preceding year.
During April 2016, the inflow of worker’s remittances amounted to US $ 1656.85 million, which is 3.17% lower than March 2016 and 1.02% higher than April 2015.
The country wise details for the month of April 2016 show that inflows from Saudi Arabia, UAE, USA, UK, GCC countries (including Bahrain, Kuwait, Qatar and Oman) and EU countries amounted to US $ 488.78 million, US $ 345.99 million, US $ 189.84 million, US $ 221.88 million, US $ 199.53 million and US $ 39.85 million respectively compared with the inflow of US $ 519.65 million, US $ 398.41 million, US $ 214.45 million, US $ 186.96 million, US $ 193.13 million and US $ 27 million respectively in April 2015.
Remittances received from Norway, Switzerland, Australia, Canada, Japan and other countries during April 2016 amounted to US $170.98 million together as against US $100.49 million received in April 2015.
It’s the most important reason why the economy of Pakistan hasn’t collapsed yet