Overseas Pakistanis send $9.298 billion in five months

KARACHI: The growth in inflows of workers’ remittances was remained flat at $9.298 billion during first five months of current fiscal year, State Bank of Pakistan (SBP) said on Tuesday.

The central bank said that overseas Pakistani workers remitted US$ 9.298 billion in the first five months (July to November) of 2019/2020, compared with US$ 9.282 billion received during the same period in the preceding year.

During November 2019, the inflow of workers remittances amounted to US$ 1,819.66 million, which is 9.05 percent lower than October 2019 and 9.35 percent higher than November 2018.

The country wise details for the month of November 2019 show that inflows from Saudi Arabia, UAE, USA, UK, GCC countries (including Bahrain, Kuwait, Qatar and Oman) and EU countries amounted to US$ 407.48 million, US$ 383.77 million, US$ 298.64 million, US$ 285.56 million, US$ 172.25 million and US$ 52.76 million respectively compared with the inflow of US$ 395.12 million, US$ 350.35 million, US$ 268.32 million, US$ 246.78 million, US$ 153.51 million and US$ 42.22 million respectively in November 2018.

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

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