Remittances grow by 10pc to $10.7 billion in July – December

KARACHI: Overseas Pakistani workers have remitted $10.719 billion during the first half (July to December) of fiscal year 2018-2019, showing a growth of 10 percent compared with $9.745 billion received during the same period in the preceding year, State Bank of Pakistan (SBP) said on Thursday.



During December 2018, the inflow of workers’ remittances amounted to US$ 1690.18 million, which is 5.07percent higher than November 2018 and 1.93percent lower than December 2017.

The country wise details for the month of December 2018 show that inflows from Saudi Arabia, UAE, USA, UK, GCC countries (including Bahrain, Kuwait, Qatar and Oman) and EU countries amounted to US$ 414.84 million, US$ 341.58 million, US$ 262.83 million, US$ 247.06 million, US$ 171.56 million and US$ 45.62 million respectively compared with the inflow of US$ 431.97 million, US$ 396.74 million, US$ 234.76 million, US$ 223.30 million, US$ 188.76 million and US$ 54.87 million respectively in December 2017.

Remittances received from Malaysia, Norway, Switzerland, Australia, Canada, Japan and other countries during December 2018 amounted to US$ 206.69 million together as against US$ 193.17 million received in December 2017.

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