Home ECONOMY Remittances surge 9.35pc to $1.8bn in Nov

Remittances surge 9.35pc to $1.8bn in Nov

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Remittances surge 9.35pc to $1.8bn in Nov

ISLAMABAD: Overseas Pakistani workers remitted $9,298.57 million during the first five months (July-November) of Financial Year 2019-20 compared to $9,281.94 million received during the same period of last year.

During the month of November 2019, the inflow of workers remittances amounted to $1,819.66 million, which was 9.05pc lower than October 2019 and 9.35pc higher than November 2018, according to data released by the State Bank of Pakistan (PBS) on Thursday.

During the month under review, inflows from Saudi Arabia, United Arab Emirates, United States of America, United Kingdom, GCC countries (including Bahrain, Kuwait, Qatar and Oman) and European Union countries amounted to $407.48 million, $383.77 million, $298.64 million, $285.56 million, $172.25 million and $52.76 million, respectively, compared with the inflow of $395.12 million, $350.35 million, $268.32 million, $246.78 million, $153.51 million and $42.22 million, respectively, in November 2018.

Remittances received from Malaysia, Norway, Switzerland, Australia, Canada, Japan and other countries during November 2019 amounted to $219.19 million, as against $207.74 million received in November 2018.

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