Pakistan's overseas workers sent record $673.50 million remittances in December 2008, surpassing $660.35 million in September 2008, and showing an increase of $194.24 million, or 40.53 percent During July-December 2008, the country received $3.640 billion remittances against $3.066 billion during the same period of last fiscal year, showing an increase of $573.68 million or 18.71 percent.
The amount of $3.640 billion included $0.37 million encashment and profit earned on Foreign Exchange Bearer Certificates (FEBCs) and Foreign Currency Bearer Certificates (FCBCs). The monthly average of remittances in July-December 2008 period comes to $606.67 million, up by $95.61 million or 18.71 percent when compared with the same corresponding period of last year.
The July-December inflow from USA, Saudi Arabia, UAE, GCC countries (including Bahrain, Kuwait, Qatar and Oman), UK and EU countries amounted to $903.49 million, $714.90 million, $699.43 million, $596.54 million, $239.82 million and $111.41 million, respectively as compared to $874.21 million, $563.06 million, $500.33 million, $457.21 million, $227.23 million, and $88.99 million, respectively of July-December, 2007 period.
Remittances received from Norway, Switzerland, Australia, Canada, Japan and other countries during the first half of the current fiscal year 2008-09 amounted to $374.05 million as against $354.18 millio in the same period of last year.
During December 2008 remittances from UAE, USA, Saudi Arabia, GCC countries (including Bahrain, Kuwait, Qatar and Oman), UK and EU countries amounted to $165.18 million, $136.37 million, $114.65 million, $100.33 million, $50.87 million, and $30.39 million, respectively, as compared to $77.33 million, $140.45 million, $81.25 million, $77.21 million, $29.82 million, and $12.90 million in December 2007. Remittances received from Norway, Switzerland, Australia, Canada, Japan and other countries during December, 2008 amounted to $75.66 million, up from $60.15 million received in the same month of last year.