Pakistan Receives Over Rs. 2 Billion Remittance in July 2019

Pakistan Receives Over Rs. 2 Billion Remittance in July 2019

Overseas Pakistanis remitted $2.039 billion in the first month (July) of FY 2019-20 as compared with $1.98 billion received during the same period in the preceding year. The growth in remittance inflows was reported due to seasonal surge ahead of Eid-ul-Azha and the gradual improvement in the utility of banking system by overseas Pakistanis.

During July 2019, the inflows of worker's remittances amounted to $2.03 billion, which is 23.91% more than June 2019 and 2.9% more than July 2018.

The country-wise details for the month of July 2019 show that inflows from Saudi Arabia, UAE, USA, UK, GCC countries (including Bahrain, Kuwait, Qatar, and Oman) and EU countries amounted to $470.95 million, $427.33 million, $332.37 million, $299.27 million, $198.06 million and $58.30 million respectively compared with the inflow of $437.48 million, $446.25 million, $291.87 million, $298.51 million, $199.30 million and $64.96 million respectively in July 2018.

Remittances received from Malaysia, Norway, Switzerland, Australia, Canada, Japan, and other countries during July 2019 amounted to $253.01 million together as against $243.35 million received in July 2018.

Source: Pro Pakistani