Overseas workers remittances show 3.31pc growth

The Nation/12/01/2020

KARACHI – An amount of $11394.91 million has been remitted by the overseas Pakistani workers in the first half of the fiscal year 2019-20 (July to December).

The remittances showed a growth of 3.31 per cent as compared with $11030.01 million received during the same period in the preceding year, according to data.

The inflow of workers’ remittances amounted to $ 2097.23 million during December 2019, which is 15.25 per cent higher than Nov 2019 and 20 per cent higher than December 2018.

The country-wise details for Dec 2019 show that inflows from Saudi Arabia, UAE, USA, UK, GCC countries (including Bahrain, Kuwait, Qatar, and Oman) and EU countries amounted to $ 472.94 million, $ 427.56 million, $ 357.45 million, $ 324.57 million, $ 205.73 million and $ 56.42 million respectively.

In Dec 2018, however, Pakistan received US$ 414.59 million in remittances from Saudi Arabia, $ 351.19 million from UAE, $ 276.29 million from USA, $ 267.79 million from UK, $ 174.42 million from GCC countries and $ 47.48 million from EU countries.

Remittances received from Malaysia, Norway, Switzerland, Australia, Canada, Japan and other countries during December 2019 amounted to $ 252.56 million together as against $ 216.35 million received in December 2018.

Source : https://nation.com.pk/12-Jan-2020/overseas-workers-remittances-show-3-31pc-growth