Overseas Pakistani workers’ remittances increase by 364 million dollars
KARACHI: The remittances of overseas Pakistani workers have increased by 364 million US dollars in first half of fiscal year 2019-20 in comparison with the same period last year.
According to the State Bank of Pakistan (SBP), “Overseas Pakistani workers remitted US$ 11394.91 million in the first half (July to December) of FY20, showing a growth of 3.31% compared with US$ 11030.01 million received during the same period in the preceding year.”
During December 2019, the inflow of workers’ remittances amounted to US$ 2097.23 million, which is 15.25% higher than November 2019 and 20% higher than December 2018, a SBP press release stated.
The country-wise details for December 2019 showed that inflows from Saudi Arabia, United Arab Emirates, United States of America, United Kingdom, Gulf countries (including Bahrain, Kuwait, Qatar and Oman) and European Union (EU) countries amounted to US$ 472.94 million, US$ 427.56 million, US$ 357.45 million, US$ 324.57 million, US$ 205.73 million and US$ 56.42 million respectively compared with the inflow of US$ 414.59 million, US$ 351.19 million, US$ 276.29 million, US$ 267.79 million, US$ 174.42 million and US$ 47.48 million respectively in December 2018.
Remittances received from Malaysia, Norway, Switzerland, Australia, Canada, Japan and other countries during December 2019 amounted to US$ 252.56 million together as against US$ 216.35 million received in December 2018.