ISLAMABAD, Pakistan: The remittances sent by Overseas Pakistanis increased by 26 percent to US$ 2.4 billion during January 2024 as compared to US$ 1.9 billion recorded in January 2023.
Whereas on a month on month basis, remittances received in January 2024 recorded a 1 percent increase compared to the previous month, according to the latest statistics released by the State Bank of Pakistan.
During the first seven months of Fiscal Year (FY) 24, remittances went down by 3 percent YoY to US$ 15.8 billion as compared to US$ 16.3 billion during the same period in the last FY.
During Jan 24, workers’ remittances recorded an inflow of US$2.4 billion.
For details see https://t.co/rPOvn9CTjfhttps://t.co/7XBd4uNES4#SBPRemittances pic.twitter.com/BJ79w2B0fs— SBP (@StateBank_Pak) February 12, 2024
The statistics showed that the Overseas Workers sent remittances amounting to US$ 2,397.1 million in January 2024 against US$ 2,381.9 million of the previous month (December 2023).
Share of remittances in January 2024 from the United States remained US$ 283.4 million, United Kingdom US$ 362.1 million, Saudi Arabia US$ 587.3 million, the United Arab Emirates (UAE) US$ 407.6 million, other GCC Countries US$ 252.8 million, and EU Countries US$ 290.1 million.
During the period, US$ 9.3 million were received in remittances from Malaysia, US$ 8.6 million from Norway, US$ 4.2 million from Switzerland, US$ 54.5 million from Australia, US$ 42.3 million from Canada, US$ 4.1 million from Japan, US$ 15.7 million from South Africa, US$ 7.8 million from South Korea, US$ 67.2 million from other Countries.
