Remittances from the UAE have surpassed more than Dhs80bn ($21.78bn) so far this year.
New statistics released by the UAE’s Central Bank reveal expats sent about Dhs80.96bn ($22.04bn) back to their home countries in the first half of 2019.
Statistics were also released for what nationalities sent the most back home in the second quarter of the year. Indians led the way with 37.2 per cent of the total. In second were people from Pakistan, comprising 10.5 per cent. In third place were the Philippines (7.2 per cent), followed by Egypt (6.3 per cent), the UK (3.8 per cent), Bangladesh (3.7 per cent), United States (3.3 per cent), Jordan (2.6 per cent), Switzerland (2.2 per cent) and China (1.5 per cent).
Of the money that was sent by workers back home in the first half of the year, about Dhs33.04bn – or nearly 41 per cent – was transferred via money exchange companies. The majority of the rest was sent via banks.
With the vast majority of the UAE’s workforce from overseas, the country has traditionally had a high remittance rate.
AT A GLANCE: TOP 10 NATIONS FOR REMITTTANCES FROM UAE
- United Kingdom
- United States