ISLAMABAD, Pakistan: The remittances sent by Overseas Pakistanis decreased by 12 percent Year on Year (YoY) to US$ 26.3 billion during the Calander Year 2023 as compared to US$ 29.9 billion during 2022 (highest YoY decline after 1999).
The latest statistics of Country-Wise Workers’ Remittances released by the State Bank of Pakistan showed that remittances recorded an inflow of US$ 2.4 billion in December 2023, showing an increase of 13.4 percent YoY and 5.4 percent MoM.
The statistics showed that the Overseas Workers sent remittances amounting to 2,381.5 million in December 2023 against US$ 2,258.5 million of the previous month (November 2023).
In December 2023, workers’ remittances recorded an inflow of US$2.4 billion.
For details see https://t.co/rPOvn9Dr8Nhttps://t.co/7XBd4uOcHC#SBPRemittances pic.twitter.com/nXXRbkXOc5— SBP (@StateBank_Pak) January 10, 2024
The remittances in the first six months of the Fiscal Year 2024 (July-December) went down to US$ 13,434.8 million as compared to US$ 14,417.6 million during the same period in the FY 2023.
Share of remittances in December 2023 from the United States remained US$ 263.9 million, United Kingdom US$ 368.0 million, Saudi Arabia US$ 577.6 million, the United Arab Emirates (UAE) US$ 419.2 million, other GCC Countries US$ 255.2 million, and EU Countries US$ 284.9 million.
During the period, US$ 9.5 million were received in remittances from Malaysia, US$ 11.2 million from Norway, US$ 3.8 million from Switzerland, US$ 61.1 million from Australia, US$ 39.9 million from Canada, US$ 5.3 million from Japan, US$ 17.1 million from South Africa, US$ 8.4 million from South Korea, US$ 56.3 million from other Countries.
 to US$ 26.3 billion during the Calander Year 2023 as compared to US$ 29.9 billion during 2022 (highest YoY decline after 1999).){kind=link}