Economic aid / Remittance

Remittance

The remittance of Pakistanis living abroad has played important role in Pakistan's economy and foreign exchange reserves. The Pakistanis settled in Western Europe and North America are important sources of remittance to Pakistan. Since 1973 the Pakistani workers in the oil rich Arab states have been sources of billions dollars of remittance.

Pakistan received $5.493 billion as workers’ remittances during the last fiscal year 2006-07 up by 19.42 Percent against over $4.6 billion in 2005-06.

An IMF research paper has revealed that workers’ remittances contribute 4% to the GDP of Pakistan and are equivalent to about 22 percent of annual exports of goods and services.