Remittances soar 23 percent in first half of 2019

Latest statistics from the Central Bank of Kuwait (CBK) show that remittances by expatriates in the first half of the year (1H of 2019) soars by 23 percent from US$7 billion in the first six months of 2018 to $3.6 billion in 1H 2019.

The report by CBK also revealed that remittances during the second quarter increased by 15 percent to reach $4.6 billion, compared to the $4 billion remitted in the first quarter of this year.

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.

Asian countries, such as India, Bangladesh, and the Philippines, have remained at the forefront of the list of countries remitting money from Kuwait, while Egyptians and Lebanese accounted for the top remitters among Arab countries