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Sunday, November 24, 2024

Home Pakistan Workers remittances decrease by 4.4pc during May

Workers remittances decrease by 4.4pc during May

by Web Desk Staff
June 13, 2023
in Business, Pakistan

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LAHORE – State Bank of Pakistan has recorded workers’ remittances inflow of US$2.1 billion during May 2023.

According to the SBP spokesperson, remittances decreased by 4.4 percent on month on basis and by 10.4 percent on year on year basis.

With cumulative inflows of US$ 24.8 billion during first 11 months of FY23, workers’ remittances decreased by 12.8 percent as compared to the same period last year.

Workers’ remittances recorded an inflow of US$2.1 billion during May 2023. For detail see https://t.co/rPOvn9Dr8N https://t.co/7XBd4uOcHC #SBPRemittances pic.twitter.com/lcIkvd4K6f

— SBP (@StateBank_Pak) June 13, 2023

Remittances inflow during May 2023 was mainly sourced from Saudi Arabia ($524 million), United Arab Emirates ($335.8 million), United Kingdom ($306.5 million) and United States of America ($257.2 million).