Remittances grow by 12.22pc to $12.77 billion in seven months

KARACHI: The remittances sent by overseas Pakistanis have increased by 12.22 percent to $12.774 billion during first seven months (July – January) 2018/2019 as compared with $11.383 billion in the corresponding period of the last fiscal year, State Bank of Pakistan (SBP) said on Monday.

 

 

The SBP said that during January 2019, the inflow of workers’ remittances amounted to US$ 1743.25 million, which is 0.3 percent lower than December 2018 and 6.4 percent higher than January 2018.

The country wise details for the month of January 2019 show that inflows from Saudi Arabia, UAE, USA, UK, GCC countries (including Bahrain, Kuwait, Qatar and Oman) and EU countries amounted to US$ 403.92 million, US$ 352.12 million, US$ 272.32 million, US$ 295.13 million, US$ 166.50 million and US$ 42.89 million respectively compared with the inflow of US$ 383.91 million, US$ 351.58 million, US$ 223.94 million, US$ 235.10 million, US$ 186.33 million and US$ 56.4 million respectively in January 2018.

Remittances received from Malaysia, Norway, Switzerland, Australia, Canada, Japan and other countries during January 2019 amounted to US$ 210.36 million together as against US$ 201.46 million received in January 2018.

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