The amount of remittances sent to Pakistanis working abroad has increased to more than $2 billion in December 2023.
As per data released by the State Bank of Pakistan, the expatriates remitted around $2.4 billion in December 2023, which is 13.4% more than $2.1 billion sent home in the same month last year.
In December 2023, workers’ remittances recorded an inflow of US$2.4 billion.
— SBP (@StateBank_Pak) January 10, 2024
For details see https://t.co/rPOvn9Dr8Nhttps://t.co/7XBd4uOcHC#SBPRemittances pic.twitter.com/nXXRbkXOc5
The amount remitted in December 2023 is also 5.4% more than the remittances collected in November, which was $2.25 billion.
The SBP data showed that the highest amount of more than $577.6 million was remitted from workers in Saudi Arabia.
Also Read: Remittances decline by $1.3bn compared to last year
On the other hand, the remittances were recorded at $13.43 billion during July-December of fiscal year 2024, registering a drop of 6.8% on year-on-year basis or $982.8 million, as compared to $14.42 billion registered in the same period last fiscal year.
Moreover, after Saudi Arabia, the second highest remitting country in December 2023 was UAE with $419.2 million, followed by $368 million from the UK and $263.9 million from the USA, as per the State Bank data.
