Remittances up 8.74pc in 9 months

The Nation

ISLAMABAD – Overseas Pakistani workers remitted $16096.33 million in the first nine months (July to March) of FY18, showing a growth of 8.74% compared with $14802.96 million received during the same period in the preceding year.

During March 2019, the inflow of workers remittances amounted to $1745.80 million, which is 10.73% higher than February 2019 and 3.20% lower than March 2018, says a statement issued by the State Bank of Pakistan on Wednesday.

The country wise details for the month of March 2019 show that inflows from Saudi Arabia, UAE, USA, UK, GCC countries (including Bahrain, Kuwait, Qatar and Oman) and EU countries amounted to $405.87 million, $378.14 million, $271.11 million, $281.26 million, $167.80 million and $44.20 million respectively compared with the inflow of $427.62 million, $424.89 million, $247.17 million, $258.96 million, $183.79 million and $58.91 million respectively in March 2018.

Remittances received from Malaysia, Norway, Switzerland, Australia, Canada, Japan and other countries during March 2019 amounted to $197.41 million together as against $202.26 million received in March 2018.