Overseas Pakistani workers’ remittances saw a 6.8% decrease, totaling $13.435 billion in the initial six months of FY2023-24, as per the State Bank of Pakistan (SBP).
As per the State Bank of Pakistan (SBP) data, remittances from overseas Pakistani workers amounted to $13.435 in the initial six months of the current fiscal year, in contrast to $14.418 during the corresponding period in the preceding fiscal year.
In December 2023, workers’ remittances recorded an inflow of US$2.4 billion.
— SBP (@StateBank_Pak) January 10, 2024
For details see https://t.co/rPOvn9Dr8Nhttps://t.co/7XBd4uOcHC#SBPRemittances pic.twitter.com/nXXRbkXOc5
The central bank’s data revealed a figure of $2.38 billion for December 2023.
According to SBP data, remittances from overseas Pakistani workers in December 2023 included $570.76 million from Saudi Arabia, $410.92 million from the United Arab Emirates (UAE), $360.80 million from the United Kingdom (UK), and $260.39 million from the United States (US). Previously, remittance inflows were reported at $2.463 billion in October 2023 and $2.173 billion in November 2022.
Remittances for the initial five months of fiscal year 2023-24 amounted to $11.045 billion, indicating a 10.3% decline from the $13.287 billion recorded in July-November 2022-23.
