Karachi September 11 2023: During Aug 2023, workers’ remittances recorded an inflow of USD 2.1 billion, witnessing an increase of 3.1 percent compared to the last month.
In August 2023, there was an 8.7 percent increase in remittances from the USA to reach USD 262.4 million, compared to the previous month. During the same period, overseas Pakistanis sent USD 490.1 million from Saudi Arabia, marking a 0.7 percent increase from the previous month’s inflow of USD 486.7 million.
Remittances from the UK amounted to USD 331.3 million in August, reflecting an 8.1 percent increase compared to the previous month. Additionally, remittances from the European Union (EU) experienced growth of 2.5 percent, reaching USD 290.4 million in August 2023.
In August 2023, workers in the UAE sent USD 308.0 million in remittances, showing a 2.4 percent decline compared to the previous month’s inflow of USD 315.5 million.
Workers’ remittances inflow of US$ 4.1 billion has been recorded during Jul-Aug FY24 on cumulative basis.
