Workers’ remittances fall 6.3% in Q1 FY23

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The overseas workers’ remittances posted a decline of 6.3 percent during first quarter (Jul-Sept) of fiscal year 2022-23 as the remittances fell from $8.2 billion in same period of last year to $7.7 billion in the period under review.

On year-on-year basis, the overseas workers’ remittances recorded an inflow of US$2.4 billion in September 2022, posting a decrease of 12.3 percent as compared with the previous month’s inflow of $2.8 billion.

On month-on-month basis, the remittances in September 2022 also witnessed a decline of 10.5 percent when compared with the inflow of $2.7 billion recorded in August 2022. —APP

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