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Fri 29 Sep 2017 01:43 PM

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Foreign workers in the UAE remit over $21bn in H1

Central bank data shows Indian workers were the most active for remittances in first six months of 2017

Foreign workers in the UAE remit over $21bn in H1
The total value of remittances by foreign workers in the UAE reached AED78 billion ($21.2 billion) during the first half of 2017, according to central bank figures. Photo: AAMIR QURESHIAFPGetty Images

The total value of remittances by foreign workers in the UAE reached AED78 billion ($21.2 billion) during the first half of 2017, according to central bank figures.

The UAE Central Bank announced that remittances totalled AED40.8 billion during the second quarter, an increase of 10 percent compared to the first quarter.

Indian workers continued to lead as the most active nationality in terms of remittances, totalling AED14.64 billion or around 35.9 percent of the total during the second quarter of the year.

Pakistani workers came in second position with 9.6 percent, a value of AED3.91 billion.

Remittances by Filipino workers accounted for 7.1 percent with a value of around AED2.9 billion while Egyptian workers accounted for 5.2 percent (AED2.12 billion).

According to the data, the value of remittances by British workers reached AED1.7 billion while the figure for Bangladeshi workers totalled AED1.63 billion, which was the same for American workers.

Workers from Asian countries represent over 82 percent of the number foreign workers registered in the UAE, and they accounted for a total value of overseas remittances of around AED23 billion, or 56.3 percent, during the second quarter of 2017.

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