Karachi August 10 2023: Pakistan workers’ remittances recorded an inflow of USD 2.0 billion during July 2023, according to State Bank of Pakistan.
In terms of growth, during July 2023, remittances decreased by 19.3 percent on year on year and by 7.2 percent on month on month basis.
Remittances dropped by 30.9 percent on year on year basis from United Arab Emirates while declined by 25.2 percent year on year from United Kingdom during the month of July 2023. The inflow dropped by 15.7 percent on year on year basis from Saudi Arabia.
Remittances inflow during July 2023 was mainly sourced from Saudi Arabia (USD 487 million), United Arab Emirates (USD 315 million), United Kingdom (USD 305 million) and United States of America (USD 238 million).