By: Mahmoud Gamal

UAE – Mubasher: Five countries have acquired 62% of total remittances from the UAE, which recorded AED 38.415 billion in the first quarter of 2019, according to data by the Central Bank of the UAE. 

Indians topped the list of remittances from the UAE in Q1-19, declining by 5.5% to AED 14.36 billion, compared to AED 13.6 billion in Q4-18, according to data.

The Indian remittances accounted for 37.4% of total remittances from the GCC state in the three-month period ended 31 March as Indian expatriates represent 27.5% of the UAE’s total expats.

Meanwhile, remittances to Pakistan fell in line with the increase in the dirham’s value since Q3-18.

Remittances from Pakistani expats in the country came in the second place among the list, rising to AED 3.9 billion in Q1-19, versus AED 3.8 billion in Q1-18, accounting for 10.2% of total remittances.

Remittances from Filipino expats in the UAE increased by 4.5% in the January-March period of 2019 to AED 3.03 billion from AED 2.9 billion in the last quarter of 2018, making up 7.9% of total remittances.

Remittances from Egyptian expats in the UAE came in the fourth spot with AED 2.3 billion, compared to AED 2.9 billion in Q4-18, acquiring 6% of total Q1-19 remittances.

Moreover, Bangladeshi remittances from the country came in fifth place with transfers worth AED 1.76 billion, up 23.07% from AED 1.43 billion in Q4-18, accounting for 4.6% of total remittances.

The US remittances from the UAE came in the sixth place, reaching AED 1.3 billion in Q1-19 from AED 2.35 billion in Q4-18, making up 3.4% of total remittances.

It is worth noting that total remittances decreased by 3.7% in Q1-19, versus AED 39.911 billion in Q4-18.

Year-on-year, remittances slashed from AED 43.50 billion in Q1-18.

Translated by: Mai Ezz El-Din