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Workers’ remittances decrease by 22pc in June

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LAHORE – Workers’ remittances have fallen by 22 percent to $2.184 billion in June 2023 as compared with $2.79 during the same month last year, reveals State Bank of Pakistan on Monday.

However, remittances increased by 3.9 percent as compared to the last month.

Cumulatively, at US$ 27.024 billion, remittances decreased by 13.6 percent during financial year 2023 as compared to $31.279 in FY2022.

As such, remittances in FY23 recorded a mark decline of $4.254 billion.

Remittances inflows during June 2023 were mainly sourced from Saudi Arabia ($515.1 million), United Kingdom ($343.0 million), United Arab Emirates ($324.7 million) and United States of America ($272.3 million).

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