Expat Pakistanis Send $10.7 Billion Remittances in 6 Months of FY 2018-19

The remittances sent by overseas Pakistanis from different countries witnessed double-digit growth of 10 percent in the first half of the financial year 2018-19.

According to State Bank of Pakistan, expatriate Pakistanis remitted $10.718 billion in the first half (July to December) of FY19, showing a growth of 10% compared with $9.744 billion received during the same period in the preceding year, showing an increase of $974 million.

During December 2018, the inflow of workers’ remittances surged to $1.690 billion, which is 5.07% higher than November 2018 and 1.93% 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 $414.84 million, $341.58 million, $262.83 million, $247.06 million, $171.56 million and $45.62 million respectively compared with the inflow of $431.97 million, $396.74 million, $234.76 million, $223.30million, $188.76 million and $54.87 million respectively in December 2017.

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