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Pakistan’s remittances recorded at $2b for August

SBP says worker remittances were slightly up from July
In this picture taken on July 22, 2019, customers exchange foreign currency at a money changer in Karachi. AFP
In this picture taken on July 22, 2019, customers exchange foreign currency at a money changer in Karachi. AFP

Pakistan’s foreign worker remittances were recorded at $2.09 billion for the month of August, the country’s central bank said in a statement on Monday.

“During Aug 2023, workers’ remittances recorded an inflow of US$2.1 billion, witnessing an increase of 3.1 per cent compared to the last month,” said the State Bank of Pakistan in a post on X on Monday.

Worker remittances were slightly up from July, when a figure of 2.02 billion was recorded.

The major contributors to Pakistan’s remittance are Saudi Arabia, the United Kingdom, the United Arab Emirates, and the United States.

The inflows from the UAE declined by $7.48 million since July 2023, while the inflows from Saudi Arabia, the UK, and the US increased, according to official data.

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