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Overseas Pakistanis Foundation
Overseas Pakistanis Foundation

Overseas Pakistanis’ remittances drop 28.7% in September 2018

KARACHI: Overseas Pakistanis’ remittances during September 2018 amounted to US$ 1.452 billion, which is 28.70% less than August 2018 and 12.25% higher than September 2017.

According to data released by the State Bank of Pakistan on October 11, the Overseas Pakistanis remitted US$ 5.419 billion in the first three months (July to September) of FY19, showing a growth of 13.14% compared with US$ 4.790 billion received during the same period in the preceding year.

The country wise details for the month of September 2018 show that inflows from Saudi Arabia, UAE, USA, UK, GCC countries (including Bahrain, Kuwait, Qatar and Oman) and EU countries amounted to US$ 360.16 million, US$ 301.15 million, US$ 231.21 million, US$ 203.08 million, US$ 133.95 million and US$ 41.1 million respectively compared with the inflow of US$ 308.05 million, US$ 302.77 million, US$ 171.9 million, US$ 194.76 million, US$ 141.02 million and US$ 45.07 million respectively in September 2017.

Remittances received from Malaysia, Norway, Switzerland, Australia, Canada, Japan and other countries during September 2018 amounted to US$ 181.78 million together as against US$ 130.31 million received in September 2017.

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