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Overseas Pakistanis remit $2.04b in July

Overseas Pakistanis remit $2.04b in July

KARACHI: Overseas Pakistani workers have remitted $2.04 billion in the first month of fiscal year 2019/2020 as compared with $1.98 billion in the same month of the last fiscal year, State Bank of Pakistan (SBP) said on Friday.

During July 2019, the inflow of worker’s remittances amounted to $2.04 billion, which is 23.91 percent more than June 2019 and 2.9 percent more than July 2018.

The country wise details for the month of July 2019 show that inflows from Saudi Arabia, UAE, USA, UK, GCC countries (including Bahrain, Kuwait, Qatar and Oman) and EU countries amounted to $470.95 million, $427.33 million, $332.37 million, $299.27 million, $198.06 million and $58.30 million respectively compared with the inflow of $437.48 million, $446.25 million, $291.87 million, $298.51 million, $199.30 million and $64.96 million respectively in July 2018.

Remittances received from Malaysia, Norway, Switzerland, Australia, Canada, Japan and other countries during July 2019 amounted to US $253.01 million together as against US $243.35 million received in July 2018.