Overseas Pakistanis send $11.4 billion during first half

KARACHI: Overseas Pakistanis have sent $11.4 billion during first half (July – December) 2019/2020, which is 3.31 percent higher than remittances received in the same period of the last fiscal year, State Bank of Pakistan (SBP) said on Saturday.

The central bank said that overseas Pakistani workers remitted $11.4 billion in the first half (July to December) of FY20, showing a growth of 3.31 percent compared with $11.03 billion received during the same period in the preceding year.

During December 2019, the inflow of workers’ remittances amounted to $ 2097.23 million, which is 15.25 percent higher than November 2019 and 20 percent higher than December 2018.

The country wise details for the month of December 2019 show that inflows from Saudi Arabia, UAE, USA, UK, GCC countries (including Bahrain, Kuwait, Qatar and Oman) and EU countries amounted to $ 472.94 million, $ 427.56 million, $ 357.45 million, $ 324.57 million, $ 205.73 million and $ 56.42 million respectively compared with the inflow of $ 414.59 million, $ 351.19 million, $ 276.29 million, $ 267.79 million, $ 174.42 million and $ 47.48 million respectively in December 2018.

Remittances received from Malaysia, Norway, Switzerland, Australia, Canada, Japan and other countries during December 2019 amounted to $ 252.56 million together as against $ 216.35 million received in December 2018.

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