Overseas Pakistanis remit $7.4 billion in first four months of FY19

KARACHI: Overseas Pakistani workers remitted $7419.98 million in the first four months (July to October) of FY19, compared with $6,444.46 million received during the same period in the preceding year.

During October 2018, the inflow of worker’s remittances amounted to $2000.47 million, which is 37.7% higher than September 2018 and 20.9% higher than October 2017.

The country wise details for the month of October 2018 show that inflows from Saudi Arabia, UAE, USA, UK, GCC countries (including Bahrain, Kuwait, Qatar and Oman) and EU countries amounted to $494.53 million, $412 million, $308.78 million, $298.80 million, $198.30 million and $57.36 million respectively compared with the inflow of $461.07 million, $333.57 million, $215.64 million, $270.46 million, $184.76 million and $51.12 million respectively in October 2017.

Remittances received from Malaysia, Norway, Switzerland, Australia, Canada, Japan and other countries during October 2018 amounted to $230.68 million together as against $137.83 million received in October 2017.