Remittances up 3.3pc to $11.4bn in first half of FY20

KARACHI: Overseas Pakistani workers remitted $11,394.91 million in the first half (July to December) of the fiscal year 2019-20 (FY20), an increase of 3.31pc when compared with $11,030.01 million received during the same period of the preceding year.

On a month-on-month basis, the inflow of workers’ remittances amounted to $2,097.23 million during December 2019 (15.25pc higher than Nov 2019 and 20pc higher than December 2018).

During the month of Dec 2019, 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.

On the contrary, Pakistan had received $414.59 million in remittances from Saudi Arabia, $351.19 million from UAE, $276.29 million from USA, $267.79 million from UK, $174.42 million from GCC countries and $47.48 million from EU countries during Dec 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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