Pakistan received $6.1 billion in remittances in 2007, recording an increase of almost one billion dollars from the preceding year, according to the World Bank's new Migration and Remittances Factbook 2008, released Wednesday.
Inward remittances flows for Pakistan have been on the consistent rise since 2000, when it received $1,075 million. The volume of workers remittances had jumped to $5.12 billion in the year 2005.
In South Asia, the Factbook says top five remittance recipients in 2007 were: India ($27.0 bln), Bangladesh ($6.4 bln), Pakistan ($6.1 bln), Sri Lanka, ($2.7 bln) and Nepal ($1.6 bln).
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Rich countries are the main source of remittances. The United States is by far the largest with $42 billion in recorded outward flows in 2006. Saudi Arabia ranks as the second largest followed by Switzerland and Germany.
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