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Friday , February 26 2021

Expat remittances from Kuwait up by 23%

KUWAIT CITY, Aug 22: Bank data reveals a 23 percent jump in remittances from Kuwait by the end of the first half of 2019 or $8.6 billion, compared to $7 billion in the first half of 2018, reports Al-Wasat daily quoting Al-Arabi Al-Jadeed.

According to statistics issued by the Central Bank of Kuwait, remittances during the second quarter increased by 15 percent compared to the first quarter of this year, reaching to $4.6 billion, compared to $4 billion in the first quarter.

The number of expatriate workers in Kuwait is about 3.4 million, which constitutes about 70.5 percent of the total population of 4.8 million people. The Asian countries have remained at the forefront of the list of countries that transfer money from Kuwait, such as India, Bangladesh and the Philippines, while the Arab countries follow topped by Egypt and Lebanon.

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