11% increase in overseas Pakistanis’ remittances

Author: Staff Report

Overseas Pakistani workers remitted $20.19 billion in the first eleven months (July to May) of financial year 2019, showing a growth of 10.42% compared with $18.28 billion received during the same period in the preceding year.

During May 2019, the inflow of worker’s remittances amounted to $2315.74 million, which is 30.17% higher than April 2019 and 28.36% higher than May 2018. The country-wise details for the month of May 2019 show that inflows from Saudi Arabia, UAE, USA, UK, GCC countries (including Bahrain, Kuwait, Qatar and Oman) and EU countries amounted to $493.73 million, $476.57 million, $346.81 million, $387.09 million, $237.76 million and $70.61 million respectively compared with the inflow of $432.05 million, $373.85 million, $290.26 million, $269.11 million, $178.96 million and $60.34 million respectively in May 2018.

Remittances received from Malaysia, Norway, Switzerland, Australia, Canada, Japan and other countries during May 2019 amounted to US $303.17 million together as against US $199.51 million received in May 2018.

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