Worker’s remittance shoots up by 30% in May’19

Jun 14, 2019 (MLN): Overseas Pakistanis remitted USD 2.32 billion in the month of May 2019 compared to USD 1.78 billion in April 2019 showing an increase of USD 536.84 million or 30% over the previous month, on account of Ramzan and the then approaching festival of Eid-ul-Fitr.

According to data released by the State Bank of Pakistan the remittances increased by USD 511.64 million compared to May 2018.

The total amount remitted during July-May FY19 was USD 20.1910 billion compared to USD 18.2859 billion from the corresponding period of FY18 which showed an increase of USD 1,905.04 million or 10.42 percent.

Saudi Arabia was the largest source of remittances having contributed USD 493.73 million followed by UAE with USD 476.57 million and U.K. providing USD 387.09 million.

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Posted on: 2019-06-14T17:33:00+05:00