Overseas Pakistanis send $17.87 billion in 10 months

KARACHI: Overseas Pakistanis have sent remittances worth $17.875 billion during first ten months (July – April) 2018/2019, which is 8.45 percent higher when compared with remittances in the same period of the last fiscal year, State Bank of Pakistan (SBP) said on Friday.

Overseas Pakistani workers remitted $17.875 billion in the first ten months (July to April) of 2018/2019, showing a growth of 8.45 percent compared with $16.481 billion received during the same period in the preceding year.

During April 2019, the inflow of worker’s remittances amounted to $1,778.90 million, which is 2 percent higher than March 2019 and 6 percent higher than April 2018.

The country wise details for the month of April 2019 show that inflows from Saudi Arabia, UAE, USA, UK, GCC countries (including Bahrain, Kuwait, Qatar and Oman) and EU countries amounted to $427.82 million, $372.43 million, $269.56 million, $280.02 million, $175.44 million and $48.19 million respectively compared with the inflow of $399.56 million, $362.40 million, $250.91 million, $245.85 million, $167.68 million and $54.75 million respectively in April 2018.

Remittances received from Malaysia, Norway, Switzerland, Australia, Canada, Japan and other countries during April 2019 amounted to $205.43 million together as against $197.72 million received in April 2018.

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