Remittances drop by $340m in two months FY20


ISLAMABAD: The overseas Pakistani workers remitted $3.73 billion during the first two months of the current fiscal year (2019-20), as compared to $4.07 billion in the same period last year, the State Bank of Pakistan (SBP) reported on Friday.

During the month of August 2019, the workers remitted $1.69 billion as compared to $2.03 billion received in July 2019, showing a decline of $348.4 million on a month-on-month basis.

The country-wise details for the month of August 2019 showed that inflows from Saudi Arabia, UAE, USA, UK, GCC countries (Bahrain, Kuwait, Qatar and Oman) and EU countries amounted to $377.58 million, $348.51 million, $297.41 million, $250.20 million, $158.60 million and $58.14 million respectively, as compared with the inflow of $465.53 million, $473.11 million, $330.40 million, $294.90 million, $193.17 million and $59.69 million respectively in August 2018.

Remittances received from Malaysia Norway, Switzerland, Australia, Canada, Japan and other countries during August 2019 amounted to $200.42 million, as against $272.62 million received in August 2018.


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