Overseas Pakistani Workers Remit $ 1.69009 Bn In August

Overseas Pakistanis remitted dollars 1.69009 billion in August 2019 as compared to $ 2.03903 billion received during July 2019

KARACHI, (APP – UrduPoint / Pakistan Point News –  ):Overseas Pakistanis remitted dollars 1.69009 billion in August 2019 as compared to $ 2.03903 billion received during July 2019.

This showed a decline of dollars 348.4 million on month-to-month basis, reflecting the usual one-off post Eid-ul-Azha effect.

On cumulative basis, the workers’ remittances stood at $ 3,730.2 million during July and August of the current fiscal year as compared to 4,071.1 million recorded in the same period last year, said a SBP statement on Friday.

The country-wise details for the month of August 2019 show that inflows from Saudi Arabia, United Arab Emirates, United States of America, United Kingdom, GCC countries (including Bahrain, Kuwait, Qatar and Oman) and European Union countries amounted to $ 377.

58 million, $ 348.51 million, $ 297.41 million, $ 250.20 million, $ 158.60 million and $ 58.14 million respectively compared with the inflow of $ 465.53 million, $ 473.11 million, $ 330.40 million, $ 294.90 million, $ 193.17 million and $ 59.69 million respectively in August 2018.

Remittances received from Malaysia, Norway, Switzerland, Australia, Canada, Japan and other countries during August 2019 amounted to $ 200.42 million together as against $ 272.62 million received in August 2018