Workers’ remittances surge: SBP

The remittances during January, FY20 (US $ 1,907.3 million) shows an increase of US $ 163.2 million or 9.3 percent growth over remittance received during corresponding month of FY19 (US $ 1,744.1 million), says data of State Bank of Pakistan today.

On cumulative basis, the workers’ remittances received during Jul-Jan FY20 amounted to US $ 13,302.2 million recording an increase of US $ 528.1 million or 4.1 percent over remittances received during Jul-Jan FY19 (US $ 12,774.1 million),

During January 2020, larger amounts of Workers’ Remittances received from Saudi Arabia, UAE, USA and UK with US $ 433.4 million, US $ 395.5 million, US $ 335.1 million and US $ 299.1 million recorded a decline of 8.4 percent, 7.5 percent, 6.3 percent and 7.9 percent respectively as compared to December 19.

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