Business

Overseas Pakistani workers remit $9,298.57 million in five months

Overseas Pakistani workers remit $9,298.57 million in five months

KARACHI – Overseas Pakistani workers remitted US$ 9,298.57 million in the first five months (July to November) of FY20, compared with US$ 9,281.94 million received during the same period in the preceding year.

According to State Bank of Pakistan (SBP) press release issued here on Tuesday, during November 2019, the inflow of workers remittances amounted to US$ 1,819.66 million, which is 9.05% lower than October 2019 and 9.35% 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.