Remittances up by 13.14pc during July, Sept: SBP

Karachi: Overseas Pakistanis have sent $5.42 billion to their homeland during first three months (July – September) of current fiscal year, which is 13.14 percent higher when compared with $4.79 billion in the corresponding months of the last fiscal year, State Bank of Pakistan (SBP) said on Thursday.

The central bank said that during September 2018, the inflow of workers’ remittances amounted to $1.452 billion, which is 28.70 percent less than August 2018 and 12.25 percent higher than September 2017.

The country wise details for the month of September 2018 show that inflows from Saudi Arabia, UAE, USA, UK, GCC countries (including Bahrain, Kuwait, Qatar and Oman) and EU countries amounted to $ 360.16 million, $ 301.15 million, $ 231.21 million, $ 203.08 million, $ 133.95 million and $ 41.1 million respectively compared with the inflow of $ 308.05 million, $ 302.77 million, $ 171.9 million, $ 194.76 million, $ 141.02 million and $ 45.07 million respectively in September 2017.

Remittances received from Malaysia, Norway, Switzerland, Australia, Canada, Japan and other countries during September 2018 amounted to $ 181.78 million together as against $ 130.31 million received in September 2017.