Overseas Pakistanis remit $9.02bn in five months

ISLAMABAD: Overseas Pakistani workers remitted US$ 9028.60 million in the first five months (July to November) of FY19, showing a growth of 12.56% compared with US$ 8021.18 million received during the same period in the preceding year.

According to a statement issued by the State Bank of Pakistan (SBP), during November 2018, the inflow of workers’ remittances amounted to US$ 1608.62 million, which is 19.58 percent less than October 2018 and 2.02 percent higher than November 2017.

The country-wise details for the month of November 2018 show that inflows from Saudi Arabia, UAE, USA, UK, GCC countries (including Bahrain, Kuwait, Qatar and Oman) and EU countries amounted to US$ 395.12 million, US$ 343.21 million, US$ 255.78 million, US$ 228.19 million, US$ 151.37 million and US$ 42.18 million respectively compared with the inflow of US$ 409.52 million, US$ 352.64 million, US$ 204.28 million, US$ 213.47 million, US$ 191.83 million and US$ 49.06 million respectively in November 2017.

Remittances received from Malaysia, Norway, Switzerland, Australia, Canada, Japan and other countries during November 2018 amounted to US$ 192.74 million together as against US$ 155.92 million received in November 2017