According to the latest data released by the State Bank of Pakistan (SBP), the total inward remittances during the period between Jul – May, 2018 reached $18.028 billion with inflows of $1.867 billion during the month of May.
SBP today released the country-wise workers’ remittances numbers during the cumulative period between the month of July – May, 2018 reached a sum of $18.028 billion up from $17.511 billion same period last year.
Furthermore, total remittances during the month of May, 2018 reached $1.771 billion from $1.867 billion same year last month. Year on year remittances during the month of May fell by 5.13 percent.
Saudi Arabia remained one of the major destination for remittances as during the outgoing eleven months, KSA contributed $4.522 billion; 25 percent of the entire remittances. The KSA was followed by United Arab Emirates (U.A.E.) which contributed $3.992 billion, UK with $2.517 billion, USA with $2.464 billion, other GCC countries with $1.994 billion, Malaysia at $1.048 billion and EU countries at $593 million.
