Karachi February 13 2023: Workers’ remittances recorded an inflow of US$1.9 billion during Jan 23 on lower flows from GCC region, according to State Bank of Pakistan.
During Jan 23, remittances decreased by 9.9 percent on m/m and 13.1 percent on y/y basis.
Workers dollar inflows from Saudi Arabia and UAE plunged 26 percent and 30 percent.
With cumulative inflow of US$ 16 billion during first seven months of FY23, the remittances decreased by 11 percent compared to the same period last year.
Remittances inflows during Jan 23 were mainly sourced from Saudi Arabia ($407.6 million), United Arab Emirates ($269.2 million), United Kingdom ($330.4 million) and United States of America ($213.9 million).
