Overseas Pakistanis remitted over $2bn in December 2019

• Remittances showed a growth of 3.31 percent as compared to $11.030bn received during the same period last year.
• Inflows from Saudi Arabia, UAE, USA and UK, topped the list for the month of December 2019.

Overseas Pakistanis remitted $11.394 billion in the first half six months (July to December) of the current fiscal year, as per the data released by the State Bank of Pakistan (SBP).

The remittances showed a growth of 3.31 percent as compared to $11.030bn received during the same period last fiscal, showed the central bank Country-Wise Workers' Remittances data.

The inflow of workers’ remittances amounted to $2.097bn during December 2019, showing a 15.25pc Month on Month (MoM) increase as compared to $1.819bn remitted in Nov 2019, and approximately 20pc increase than $1.748bn recorded in December 2018.

Inflows from Saudi Arabia, UAE, USA and UK, topped the list for the month of December 2019 with $472.94 million, $427.56mn, $357.45mn and $324.57mn, respectively. Meanwhile, remittance from GCC countries (including Bahrain, Kuwait, Qatar, and Oman) and EU countries for the month of December, stood at $205.73mn and $56.42mn, respectively.

In Dec 2018, Pakistani workers remitted $414.59mn from Saudi Arabia, $351.19mn from UAE, $276.29mn from USA, $267.79mn from UK, $174.42mn from GCC countries and $47.48mn from EU countries.

Remittances received from Malaysia, Norway, Switzerland, Australia, Canada, Japan and other countries during December 2019 combined to $252.56mn as compared to $216.35mn received in December 2018.