Finance

Home remittances posts decline of US$ 348mln monthly

Karachi, September 13, 2019: Overseas Pakistani workers remitted US$ 1,690.9 million in August 2019 as compared with US$ 2039.3 million received during July 2019.

This showed a decline of US$ of 348.4 million on a month-on-month basis, reflecting the usual one-off post Eid-ul-Azha effect. On workers’ remittances stood at US$ 3,730.2 million during Jul-Aug FY20 compared with 4,071.1 million recorded in the same period last year.

The country wise details for the month of August 2019 show that inflows from Saudi Arabia, UAE, USA, UK, GCC countries (including Bahrain, Kuwait, Qatar and Oman) and EU countries amounted to US$ 377.58 million, US$ 348.51 million, US$ 297.41 million, US$ 250.20 million, US$ 158.60 million and US$ 58.14 compared with the inflow of US$ 465.53 million, US$ 473.11 million, US$ 330.40 million, US$ 294.90 million, US$ 193.17 million and US$ 59.69 million respectively in August 2018.

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

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