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Overseas Pakistanis remit $21.84b during Fiscal Year2019

Overseas Pakistanis remit $21.84b during Fiscal Year2019

KARACHI: Overseas Pakistani workers remitted $21,841.50 million during FY19 showing a growth of 19.68% compared with $19,913.55 million received during the same period in the preceding year.

According to State Bank of Pakistan, during June 2019, the inflow of worker’s remittances amounted to $1,650.52 million, which is 28.72% lower than May 2019 and 1.40% higher than June 2018.

The country wise details for the month of June 2019 show that inflows from Saudi Arabia, UAE, USA, UK, GCC countries (including Bahrain, Kuwait, Qatar and Oman) and EU countries amounted to $334 million, $356.03 million, $276.76 million, $268.97 million, $163.46 million and $52.49 million, respectively, compared with the inflow of $336.61 million, $345.31 million, $260.32 million, $260.25 million, $163.53 million and $62.16 million, respectively, in June 2018.

Remittances received from Malaysia, Norway, Switzerland, Australia, Canada, Japan and other countries during June 2019 amounted to $198.81 million together as against $199.47 million received in June 2018.