Remittance Inflows increased by 9% to $21.8 billion in FY19

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Remittance Inflows increased by 9% to $21.8 billion in FY19

  • Continued increase in remittance supporting External Account of the Country
  • Saudi Arabia, UAE largest contributor in remittance

As per State Bank of Pakistan report, Remittances inflows for the period July’18 to June’19 clocked in at US$21.84 billion, which is 9% higher as compared to last year.

The data shows that Remittances were higher from Countries outside the Middle East. However, the largest inflows were still from Gulf countries where significant Overseas Pakistanis reside.

Highest Inflows were received from Saudi Arabia ($5 Billion), followed by UAE ($4.6 Billion), UK ($3.41 Billion) and USA ($3.4 Billion).

Around 7%YoY decline was witnessed in remittances from European Countries excluding the United Kingdom which witnessed an increase of 18%YoY.

A surprise increase was witnessed in remittances from Malaysia which increased by 35% to $1.55 Billion.

Around 83% remittances came from Five countries which include Saudi Arabia, UAE, UK, USA and Malaysia.

Country  Amount
Million US Dollar 
Saudi Arabia                      5,003
UAE                      4,620
U.K                       3,412
USA                       3,410
Malaysia                       1,552
Kuwait                          726
Oman                          667
Other Countries                          561
Qatar                          386
Bahrain                          340
Australia                          246
Canada                          213
Spain                           151
Germany                          123
Italy                           111
France                            61
Ireland                             51
Greece                            50
Norway                            43
Switzerland                             31
Japan                            23
Belgium                            22
Sweden                             17
Denmark                            16
Netherland                              7
Total                    21,841

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