KARACHI: Inflow of workers remittances has declined by 15.7 per cent in the month of October 2022 when compared with the same month of the last year, according to data released by State Bank of Pakistan (SBP) on Friday.
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The inflows of home remittances fell to $2.215 billion in October 2022 when compared with $2.628 billion in the same month of the last year.
The remittances in October 2022 also witnessed a fall of 9 per cent when compared with $2.437 billion received during the month of September 2022.
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Remittances inflows during October 2022 were mainly sourced from Saudi Arabia ($570.5 million), the United Arab Emirates ($427 million), the United Kingdom ($278.8 million) and the United States of America ($253.1 million).
The cumulative inflow declined by 8.6 per cent to $9.9 billion during first four months of the current fiscal year.
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The inflow of remittances has been recorded at $9.9 billion during July – October of current fiscal year 2022/2023 as compared with $10.83 billion in the corresponding period of the last fiscal year.
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