Statistics released by the State Bank of Pakistan on Saturday showed that the amount of $2,092.81 million includes $1.17 million received through encashment and profit earned on Foreign Exchange Bearer Certificates (FEBCs) and Foreign Currency Bearer Certificates (FCBCs).
During November 2006 Pakistani workers remitted $448.61 million as against $308.81 million in November 2005 depicting an increase of $139.80 million or 45.27 percent.
The inflow of remittances during July-November 2006 from the USA, Saudi Arabia, UAE, GCC countries (including Bahrain, Kuwait, Qatar and Oman), UK and EU countries amounted to $533.46 million, $398.99 million, $318.12 million, $291.47 million, $180.10 million and $62.57 million respectively as compared to $481.54 million, $280.89 million, $243.26 million, $228.25 million, $172.78 million and $47.76 million. Remittances received from Canada, Australia, Norway, Switzerland, Japan and other countries amounted to $306.93 million as compared to $221.63 million in the corresponding period of the last fiscal year.
The monthly average remittances for this period comes out to $418.56 million as compared to $336.79 million during the same period of the last fiscal year.
The inflow of remittances into Pakistan from all countries of the world increased last month as compared to November 2005.
According to the break-up, Pakistan received workers' remittances during November 2006 from the USA ($111.70 million), Saudi Arabia ($80.79 million), UAE ($67.42 million), GCC countries - including Bahrain, Kuwait, Qatar and Oman ($59.86 million), UK ($41.65 million) and EU countries ($14.26 million) as compared to the corresponding receipts from the respective countries during November, 2005 ie $89.74 million, $48.30 million, $46.98 million, $47.06 million, $24.10 million and $8.03 million. Remittances received from Canada, Switzerland, Australia, Norway, Japan and other countries during November 2006 amounted to $72.78 million as compared to $43.84 million during November 2005.