Overseas Workers’ remittances shrink by 7% in July 2023

BusinessOverseas Workers’ remittances shrink by 7% in July 2023

ISLAMABAD, Pakistan: The remittances sent by the Overseas Workers in July 2023 stood at US$ 2,026.8 million, registering a decrease by 7 percent on a Month-on-Month basis.


The statistics released by the State Bank of Pakistan on Thursday showed that the Overseas Worker’s remittances recorded an inflow of US$ 2,026.8 million in the July against US$ 2,187.1 million of previous month.

Whereas on a Year-on-Year basis, the remittances also decreased by 19 percent as in July 2022 they were recorded as US$ 2,510.9 million.

Share of remittances in July 2023 from the United States remained US$ 238.1 million, United Kingdom US$ 305.7 million, Saudi Arabia US$ 486.7 million, the United Arab Emirates (UAE) US$ 315.1 million, other GCC Countries US$ 228.3 million, and EU Countries US$ 283.6 million.

During the period, US$ 7.2 million were received in remittances from Malaysia, US$ 10.5 million from Norway, US$ 3.5 million from Switzerland, US$ 43.7 million from Australia, US$ 36.9 million from Canada, US$ 3.8 million from Japan, US$ 13.5 million from South Africa, US$ 9.2 million from South Korea, US$ 41.0 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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