KARACHI: The inflows of workers’ remittances have increased to record $18 billion during the first seven months (July – January) 2021/2022, the State Bank of Pakistan (SBP) said on Friday.
The remittances registered an increase of 9.35 per cent during the period under review when compared with $16.46 billion received during first seven months of the last fiscal year.
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The SBP said that during the first seven months of 2021/2022, remittances have risen to a record $18 billion.
At $2.14 billion in January 2022, workers’ remittances remained above $2 billion for the 20th consecutive month.
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Remittances declined by 5 per cent compared to January 2021, partly reflecting an easing of travel restrictions. Compared to the previous month, they fell by 14.9 per cent due to seasonality.
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Remittance inflows during January 2022 were mainly sourced from Saudi Arabia ($540 million), United Arab Emirates ($374 million), United Kingdom ($320 million) and United States of America ($208 million).
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