Foreign remittances grow 8.45% to $17.9 bn in 10 months

ISLAMABAD:Overseas Pakistani workers remitted US $17,875.23 million in first 10 months (July to April) of FY19, showing a growth of 8.45% compared with US $16,481.82 million received during the same period in the preceding year.

During April 2019, the inflow of worker’s remittances amounted to US $1,778.90 million,which is 2% higher than March 2019 and 6% higher than April 2018, according to a data released by State Bank of Pakistan on Friday.

The country wise details for the month of April 2019 show that inflows from Saudi Arabia, UAE, USA,UK, GCC countries (including Bahrain, Kuwait, Qatar and Oman) and EU countries amounted to $427.82 million, $372.43 million,

$269.56 million, $280.02 million, $175.44million and $48.19 million respectively compared with the inflow of $399.56 million, $362.40 million, $250.91 million, $245.85 million, $167.68 million and $54.75million respectively in April 2018.

Remittances received from Malaysia, Norway,Switzerland, Australia, Canada, Japan and other countries during April 2019 amounted to $205.43 million together as against $197.72 million received in April 2018.