ISLAMABAD, Oct 12 (NNN-APP) – Remittances sent by overseas Pakistani workers decreased 10.5 percent in Sept, 2022, on a month-on-month basis, the State Bank of Pakistan said.
The workers’ remittances recorded an inflow of 2.4 billion U.S. dollars in Sept, as compared to the previous month’s figure of 2.7 billion dollars, the central bank said, in its official data yesterday, adding that, it decreased by 12.3 percent on a year-on-year basis.
With a cumulative inflow of 7.7 billion dollars during the July-Sept period, in the fiscal year of 2023, the remittances decreased by 6.3 percent, as compared to the same period last year, the figures showed.
Last month, the remittances mainly came from Saudi Arabia, with 616.6 million dollars, the United Arab Emirates with 474.3 million dollars, Britain with 307.8 million dollars, and the United States with 268.1 million dollars, according to the bank.
Workers’ remittances play an important role in Pakistan’s economy, as they are one of the major sources of foreign exchange.
