Home Business Overseas Pakistanis remit US$21.84 billion during FY19

Overseas Pakistanis remit US$21.84 billion during FY19

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

During June 2019, the inflow of worker’s remittances amounted to US $1,650.52 million, which is 28.72 percent lower than May 2019 and 1.40 percent higher than June 2018, said SBP report here on Wednesday.

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 US $334 million, US $356.03 million, US $276.76 million, US $268.97 million, US $163.46 million and US $52.49 million respectively compared with the inflow of US $336.61 million, US $345.31 million, US $260.32 million, US $260.25 million, US $163.53 million and US $62.16 million respectively in June 2018.

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