ISLAMABAD, Pakistan: The remittances sent by Overseas Pakistanis in October 2023 recorded an inflow of US$2.5 billion, showing an increase of 11.5 percent over the previous month.
— SBP (@StateBank_Pak) November 10, 2023
The statistics released by the State Bank of Pakistan on Friday showed that the Overseas Workers sent remittances amounting to US$ 2,462.9 million in October 2023 against US$ 2,208.1 million of the previous month (September 2023).
Whereas on a Year-on-Year basis, the remittances increased by 11 percent as in October 2022 they were recorded as US$ 2,247.6 million.
The remittances in the first four months of the Fiscal Year 2024 (July-October) went down by 13 percent to US$ 8,794.6 million as compared to US$ 10,144.8 million in the FY 2023.
Share of remittances in October 2023 from the United States remained US$ 283.3 million, United Kingdom US$ 330.2 million, Saudi Arabia US$ 616.8 million, the United Arab Emirates (UAE) US$ 473.9 million, other GCC Countries US$ 269.5 million, and EU Countries US$ 297.5 million.
During the period, US$ 11.6 million were received in remittances from Malaysia, US$ 7.6 million from Norway, US$ 3.5 million from Switzerland, US$ 44.2 million from Australia, US$ 39.5 million from Canada, US$ 4.6 million from Japan, US$ 17.2 million from South Africa, US$ 7.3 million from South Korea, US$ 56.3 million from other Countries.