Overseas Pakistanis remit $16.1bn in nine months FY19

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  • A growth of 8.74pc as compared to $14.8bn received during the same period of FY18

KARACHI: Overseas Pakistani workers remitted $16.09 billion in the first nine months (July 2018 to March 2019) of the fiscal year 2018-19, showing a growth of 8.74pc as compared to $14.8 billion received during the same period last year, according to a statement issued by the State Bank of Pakistan on Wednesday.

In March 2019, the inflow of worker’s remittances amounted to $1.74 billion, which is 10.73pc higher than February 2019 and 3.20pc lower than March 2018.

The country-wise details for the month of March revealed that the inflows from Saudi Arabia, United Arab Emirates, United States, United Kingdom, GCC countries (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, as compared to the inflow of $427.62 million, $424.89 million, $247.17 million, $258.96 million, $183.79 million and $58.91 million in March 2018.

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

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