Workers’ remittances grow 3.9%

Tuesday, 15 December 2020 00:33 - - {{hitsCtrl.values.hits}}

Increase for fifth consecutive month
Tourism earnings $ 956 m as arrivals decline 66%

Workers’ remittances recorded a growth of 3.9% in October 2020, year-on-year, to $ 631 million, the Central Bank said yesterday.

This increase led the cumulative earnings in workers’ remittances to record a growth of 2.6% to $ 5,680 million during the period from January to October 2020, in comparison to the corresponding period of 2019.

No tourist arrivals were recorded for the seventh consecutive month in October 2020. Total tourist arrivals remained at 507,311 during the ten months ending October 2020, compared to 1,495,055 arrivals recorded during the corresponding period in 2019.

Accordingly, cumulative earnings from tourism, which are estimated based on tourist arrivals, remained at $ 956 million during the year up to October 2020, thus recording a drop of 66.1% from the corresponding period of 2019.

Trade deficit shrinks $ 1.6 b

$ 532 m cumulative outflow from Govt. securitie