Overseas Pakistanis remit $14.3bn in the first eight months of FY19

KARACHI: Overseas Pakistani workers remitted US $14350.53 million in the first eight months (July to February) of FY19, showing a growth of 11.82 % compared with US $12833.64 million received during the same period in the preceding year.

During February 2019, the inflow of worker’s remittances amounted to US $1576.51 million, which is 9.56% lower than January 2019 and 8.71% higher than February 2018.

The country wise details for the month of February 2019 show that inflows from Saudi Arabia, UAE, USA, UK, GCC countries (including Bahrain, Kuwait, Qatar and Oman) and EU countries amounted to US $370.04 million, US $335.66 million, US $240.80 million, US $251.99 million, US $152.25 million and US $37.71 million respectively compared with the inflow of US $348.31 million, US $332.18 million, US $207.27 million, US $201.01 million, US $149.4 million and US $48.65 million respectively in February 2018.

Remittances received from Malaysia, Norway, Switzerland, Australia, Canada, Japan and other countries during February 2019 amounted to US $188.06 million together as against US $163.35 million received in February 2018.