F.P. Report
ISLAMABAD: Remittances sent home by overseas Pakistani workers declined by 6.8 per cent and reached $13.435 billion in the first six months of FY2023-24, the State Bank of Pakistan (SBP) on Wednesday.
According to the data provided by State Bank of Pakistan (SBP), the inflow of overseas Pakistani workers’ remittances clocked at $13.435 in the first six months of the ongoing fiscal year as compared to $14.418, during the same corresponding period of last fiscal year.
The data released by the central bank showed $2.38 bln in December 2023.
The SBP data shows, that overseas Pakistani workers in Saudi Arabia remitted $570.76 million, United Arab Emirates (UAE) sent $410.92 million, $360.80 million from United Kingdom (UK) and $260.39 million from the United States (US).
Earlier it was reported that the inflows of remittances were recorded $2.463 billion in October 2023 and $2.173 billion in November 2022.
Workers’ remittances during the first five months of the fiscal year 2023-24 were recorded as $11.045 billion against $13.287 billion during July-November 2022-23, depicting 10.3% decrease.
