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Overseas Pakistanis remittances down 20 percent in November

KARACHI: Overseas Pakistani workers have remitted US$9.02 billion in the first five months (July to November) of FY19.

It is a growth of 12.56 percent compared with US$8021.18 million received during the same period in the preceding year.

During November 2018, the inflow of workers’ remittances amounted to US$1.60 billion, which is 19.58 percent less than October 2018 and 2.02 percent higher than November 2017.

The country wise details for the month of November 2018 show that inflows from Saudi Arabia, UAE, USA, UK, GCC countries (including Bahrain, Kuwait, Qatar and Oman) and EU countries amounted to US$ 395.12 million, US$ 343.21 million, US$ 255.78 million, US$ 228.19 million,US$ 151.37 million and US$ 42.18 million respectively compared with the inflow of US$ 409.52 million, US$ 352.64 million, US$ 204.28 million, US$ 213.47 million,US$ 191.83 million and US$ 49.06 million respectively in November 2017.

Remittances received from Malaysia, Norway,Switzerland, Australia, Canada, Japan and other countries during November 2018 amounted to US$ 192.74 million together as against US$ 155.92 million received in November 2017.

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