During October 2019, the inflows of workers' remittances were is 2.88 percent lower than same period of last fiscal year. Inflows of home remittances were $2 billion in October 2019 as against $2.06 billion in October 2018. However, home remittance arrived in October 2019 were some 14.46 percent higher than September 2019. Inflows from USA and UK increased 3.88 percent and 1 percent to $1.234 billion and $1.143 billion respectively during the first four months of this fiscal year. While, home remittances from Saudi Arabia were declined by 1.14 percent to $1.737 billion. However, with 23 percent share Saudi Arabia is still the largest contributor in overall inflows of workers' remittances.

The country wise details for the month of October 2019 show that inflows from Saudi Arabia, UAE, USA, UK, GCC countries (including Bahrain, Kuwait, Qatar and Oman) and EU countries amounted to $468.18 million, $398.96 million, $322.38 million, $328.69 million, $191.77 million and $60.94 million respectively compared with the inflow of $494.53 million, $419.41 million, $325.19 million, $322.29 million, $200.87 million and $57.42 million respectively in October 2018.

Remittances received from Malaysia, Norway, Switzerland, Australia, Canada, Japan and other countries during October 2019 amounted to $229.88 million together as against $240.57 million received in October 2018.

Copyright Business Recorder, 2019