Expats remittances from the UAE amounted to AED164.3 billion during 2017, a growth of 2.2 percent from AED160.8 billion in 2016.
According to a report by the UAE Central Bank, an amount of AED121.66 billion was transferred through money exchange companies while the rest went through banks.
During the 4th quarter of the year, money sent by expats to home countries jumped to AED43.2 billion, which is the same amount of 2016.
During Q4 also, AED31.36 billion was transferred through exchange firms, accounting for 72.65 percent of total remittances, with 27.4 percent thereof transferred thru banks.
The remittances grew 1.4 percent during the last quarter of 2017 from AED37.9 billion in Q3.
India took home the crown as the top-receiving country for earnings made by migrants, with a total of AED14.8 billion, comprising 34.2 percent of total remittances during Q4.
They are followed by Pakistani beneficiaries who received 9.4 percent, or AED4.1 billion of total remittances, then Filipinos in the third place with 7.1 percent, while US nationals make up 5.9 percent or AED2.6 billion, with Egyptians accounting for 5.5 percent, AED2.4 billion, Britons 4.2 percent, or AED1.8 billion, and Bengalis 3.6 percent, or AED1.5 billion.