Karachi December 8 2023: During November 2023, workers’ remittances recorded an inflow of USD 2.3 billion, witnessing a decrease of 8.6 percent compared to the last month, according to data released by State Bank of Pakistan.
In terms of growth, during Nov 23, remittances decreased by 8.6 percent on m/m and increased by 3.6 percent on y/y basis. Remittances from Saudi Arabia and UAE decreased by 12.4 percent and 13.6 percent to USD 540 million and 410 million respectively. Moreover, worker inflows dropped 7.7 percent and 9.8 percent from EU to USD 262 million and USD 268 million respectively.
In Jul-Nov FY2024, workers’ remittances decreased by 10.3 percent to USD 11.04 billion compared to USD 12.3 billion last year.
