Pakistan receives $19.62 bn in remittances during FY2018

KARACHI: Pakistan witnessed a slight enhance in remittances in the course of the fiscal 12 months 2018, stated a press release by the State Financial institution of Pakistan.

Abroad staff remitted US $19.62 billion throughout FY18 displaying a progress of 1.four p.c in contrast with US $19.35 billion obtained throughout the identical interval within the previous 12 months.

Throughout June 2018, the influx of employee’s remittances amounted to $15.94 billion in comparison with $17.71 billion throughout Could 2018.

The remittances from Saudi Arabia for the month of June 2018 noticed a lower to $336.61 million in comparison with $438.07 million final 12 months.

This was adopted by decreased from United Arab Emirates who remittances had been $340.55 million throughout present fiscal 12 months as in contrast in to $414.25 million.

America and United Kingdom brough employee’s inflows amounting to $248.79 million and $245.10 million respectively in the course of the present fiscal 12 months. Each international locations noticed remittances value $265.52 million and $252.50 million final 12 months.

The Gulf Cooperation Nations (GCC) together with Bahrain, Kuwait, Qatar and Oman stood at $163.53 million throughout present 12 months, and had been 232.89 million final 12 months.

European Union international locations amounted to $62.14 million this 12 months as in comparison with $56.97 million final 12 months.

Remittances obtained from Malaysia, Norway, Switzerland, Australia, Canada, Japan and different international locations throughout June 2018 amounted to $197.69 million collectively as towards $180.04 million obtained final 12 months.

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