Remittances increase by 4.13 percent in FY20

Feb 12, 2020 (MLN): Overseas Pakistanis remitted USD 1.91 billion in the month of January 2020 compared to USD 2.1 billion in December 2019 showing a decrease of USD 189.91 million over the previous month.

However, according to data released by the State Bank of Pakistan the remittances increased by USD 163.24 million when compared to January 2019.

The total amount remitted during July-January FY20 was USD 13.3022 billion compared to USD 12.7749 billion from the corresponding period of FY19 which showed an increase of USD 527.38 million or 4.13 percent.

Saudi Arabia was the largest source of remittances having contributed USD 433.39 million followed by UAE with USD 395.48 million and USA providing USD 335.06 million.

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Posted on: 2020-02-12T20:00:00+05:00