Expats remitted $16.25b in first ten months of FY18

Masroor Afzal Pasha

Karachi

Overseas Pakistani workers have remitted $16.257 billion in the first ten months (July to April) of FY18, showing a growth of 3.92 percent compared with $15.643 billion received during the same period in the preceding year.
According to State Bank of Pakistan (SBP), during the month of April 2018, the inflow of worker’s remittances amounted to $1650.59 million, which is 6.89 percent lower than March 2018 and 7.25 percent higher than April 2017.
The country-wise details for the month of April 2018 show that inflows from Saudi Arabia, UAE, USA, UK, GCC countries (including Bahrain, Kuwait, Qatar and Oman) and EU countries amounted to $399.56 million, $358.28 million, $240.39 million, $232.58 million, $167.68 million and $54.74 million respectively compared with the inflow of $439.13 million, $344.01 million, $199.69 million, $191.62 million, $175.18 million and $41.89 million respectively in April 2017.
Remittances received from Malaysia, Norway, Switzerland, Australia, Canada, Japan and other countries during April 2018 amounted to $197.36 million together as against $147.42 million received in April 2017.

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