Remittances increase to $16.1 billion in July – March

KARACHI: Overseas Pakistani workers have remitted $16.1 billion during first nine months (July – March) 2018/2019 as compared with $14.8 billion in the same period of the last fiscal year, showing 8.74 percent growth.

State Bank of Pakistan (SBP) on Wednesday said that during March 2019, the inflow of worker’s remittances amounted to US $1745.80 million, which is 10.73 percent higher than February 2019 and 3.20 percent lower than March 2018.

The country wise details for the month of March 2019 show that inflows from Saudi Arabia, UAE, USA, UK, GCC countries (including Bahrain, Kuwait, Qatar and Oman) and EU countries amounted to US $405.87 million, US $378.14 million, US $271.11 million, US $281.26 million, US $167.80 million and US $44.20 million respectively compared with the inflow of US $427.62 million, US $424.89 million, US $247.17 million, US $258.96 million, US $183.79 million and US $58.91 million respectively in March 2018.

Remittances received from Malaysia, Norway, Switzerland, Australia, Canada, Japan and other countries during March 2019 amounted to US $197.41 million together as against US $202.26 million received in March 2018.

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