Thursday, February 27, 2020

Worker remittances up by 10% during 1HFY19

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Zain Zubair
Zain Zubair
Zain Zubair is a staff writer for World News Observer. He is studying ACCA in Pakistan. Besides Accountancy and writing pieces, he loves cooking and nature photography. Zain has attended various modern journalism workshops. Contact: [email protected]

State Bank of Pakistan (SBP) released the data of workers remittances. SBP stated that the overseas Pakistani workers remitted US$ 10718.78 million in the first half (July to December) of FY19, showing a growth of 10% compared with US$ 9744.75 million received during the same period in the preceding year.

During December 2018, the inflow of workers’ remittances amounted to US$ 1690.18 million, 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 US$ 414.84 million, US$ 341.58 million, US$ 262.83 million, US$ 247.06 million, US$ 171.56 million and US$ 45.62 million respectively compared with the inflow of US$ 431.97 million, US$ 396.74 million, US$ 234.76 million, US$ 223.30 million, US$ 188.76 million and US$ 54.87 million respectively in December 2017.

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

Zain Zubair
Zain Zubair
Zain Zubair is a staff writer for World News Observer. He is studying ACCA in Pakistan. Besides Accountancy and writing pieces, he loves cooking and nature photography. Zain has attended various modern journalism workshops. Contact: [email protected]

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