Overseas Workers’ remittances increased by 3% in August 2023

BusinessOverseas Workers’ remittances increased by 3% in August 2023

ISLAMABAD, Pakistan: The remittances sent by the Overseas Workers in August 2023 stood at US$2.1 billion, witnessing an increase of 3.1 percent compared to the last month.

The statistics released by the State Bank of Pakistan on Monday showed that the Overseas Worker’s remittances recorded an inflow of US$ 2,092.9 million in August 2023 against US$ 2,029.0 million of previous month (July 2023).

Whereas on a Year-on-Year basis, the remittances decreased by 24 percent as in August 2022 they were recorded as US$ 2,744.3 million.

Share of remittances in August 2023 from the United States remained US$ 262.4 million, United Kingdom US$ 331.3 million, Saudi Arabia US$ 490.1 million, the United Arab Emirates (UAE) US$ 308.0 million, other GCC Countries US$ 228.3 million, and EU Countries US$ 244.4 million.

During the period, US$ 6.2 million were received in remittances from Malaysia, US$ 8.0 million from Norway, US$ 3.5 million from Switzerland, US$ 45.1 million from Australia, US$ 34.8 million from Canada, US$ 3.8 million from Japan, US$ 11.7 million from South Africa, US$ 7.8 million from South Korea, US$ 45.3 million from other Countries.

Mati-Ullah is the Online Editor For DND. He is the real man to handle the team around the Country and get news from them and provide to you instantly.

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