Remittances Sent by Oversees Pakistanis Register 13.15pc Growth in 1QFY’18
Posted by PROPK STAFF
The remittances sent by overseas Pakistanis in the first three months of the Fiscal Year (FY) 2018-19 registered a healthy 13.14 per cent growth as compared to remittances received during the same period of last fiscal year.
According to State Bank of Pakistan’s (PSB) statistics, overseas Pakistanis remitted $5.4 billion in the first three months of FY19 (July to September), which shows a healthy growth of 13.14 per cent when compared with $ 4790.01 million received during the same period in the preceding year.
During September 2018, the inflow of workers’ remittances amounted to $ 1452.43 million, which is 28.70 per cent less than August 2018 and 12.25 per cent higher than September 2017.
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The country-wise details for the month of September 2018 show that inflows from Saudi Arabia, UAE, USA, UK, GCC countries (including Bahrain, Kuwait, Qatar and Oman) and EU countries amounted to $ 360.16 million, US$ 301.15 million, US$ 231.21 million, US$ 203.08 million, US$ 133.95 million and US$ 41.1 million respectively compared with the inflow of US$ 308.05 million, US$ 302.77 million, US$ 171.9 million, US$ 194.76 million, US$ 141.02 million and US$ 45.07 million respectively in September 2017.
Remittances received from Malaysia, Norway, Switzerland, Australia, Canada, Japan and other countries during September 2018 amounted to $ 181.78 million together as against $ 130.31 million received in September 2017.
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