Workers’ remittances down 11% in H1 FY23

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The overseas workers’ remittances posted a decline of 11.1 percent during first half (Jul-Dec) of fiscal year 2022-23 as the remittances fell from $15.8 billion in first half of FY22 to $14.02 billion in the period under review.

On year-on-year basis, the overseas workers’ remittances recorded an inflow of US$2.04 billion in December 2022, posting a decrease of 19 percent as compared with the previous month’s inflow of $2.5 billion.

On month-on-month basis, the remittances in December 2022 also witnessed a decline of 3.2 percent when compared with the inflow of $2.1 billion recorded in November 2022. —APP