Gcc Expats Remittances Top $57.71 Bn In The First Half Of 2018

The overall volume of remittances sent home by expatriates living in the GCC countries grew by 4.8% over the first half of this year, to reach $57.71 bn, up from $55.05 bn during the same period in 2017. 

The State of Kuwait ranked third among the Gulf Cooperation Council (GCC) states in the overall volume of expatriates’ remittances.

According to updated statistics, remittances sent by expatriates in Kuwait soared by 7.2 per cent during the first half of this year to top $7.31 billion (KD2.2bn), up from $6.82 bn during the second period in 2017.

The United Arab Emirates ranked first with $23.9 bn in remittances over the same period – up by 12.7% compared with 2017.

Saudi Arabia ranked second among the GCC countries, with a total of $18.95 bn in remittances which increased slightly by 0.06%.

The overall volume of expatriates’ remittances in Qatar dropped by 15.8% to $5.78 bn, down from $6.86 bn during the first six months in 2017.

Oman was not included in the survey due to the absence of updated official statistics.

Bahrain had the lowest volumes of remittances which did not exceed $1.77 bn, up from $1.24 bn in the same period last year.

The overall volume of remittances sent home by expatriates living in the GCC countries grew by 4.8% over the first half of this year, to reach $57.71 bn, up from $55.05 bn during the same period in 2017.

 

SOURCE : GDNONLINE

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