Workers’ remittances fall in FY 2022-23

BusinessWorkers’ remittances fall in FY 2022-23

KARACHI, Pakistan: The Overseas Pakistanis sent remittances worth at US$ 16 billion during the July-January period of 2022-23 against the US$ 18 billion recorded last year.

The data released by the State Bank of Pakistan (SBP) showed that inflows of workers’ remittances sent home by Overseas Pakistanis from July to January in the Financial Year (FY) 2022-23 were recorded at US$ 16 billion.

The data further suggested that remittances inflows from Worldwide continue to fall as in January 2023, Overseas Pakistanis sent remittances worth US$ 1.9 billion.

However, in December 22, they were recorded at US$ 2.1 billion whereas in January 2022, remittances amounted to US$ 2.2 billion.

The data showed that US$ 213.9 million were received from the United States, US$ 330.4 million from United Kingdom, US$ 407.6 million from Saudi Arabia, and US$ 269.2 from United Arab Emirates (UAE).

Likewise, US$ 243.6 million arrived from other Gulf Cooperation Council (GCC) Countries and US$ 239 million from EU Countries.

Month-wise Workers’ Remittances in FY 2022-23

JulyUS$ 2,510.9 million
AugustUS$ 2,744.3 million
SeptemberUS$ 2,431.3 million
OctoberUS$ 2,215.7 million
NovemberUS$ 2,108.3 million
DecemberUS$ 2,102.0 million
JanuaryUS$ 1,894.0 million
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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