Decrease in workers' remittances in the first half of the current financial year

Workers' remittances were $14.41 billion in the first half of FY 2023: State Bank/File Photo

KARACHI: State Bank has released the details of remittances coming from abroad.


According to the State Bank, Pakistanis living abroad sent 2 billion 380 million dollars in December, in which Pakistanis living in Saudi Arabia sent 577.6 million dollars in December, 3.25 billion dollars were received from Saudi Arabia in 6 months, while the UAE In December, 41.92 million dollars were sent to Pakistan, 36 million dollars from the United Kingdom, 28 million dollars from the European Union and 26 million dollars from the United States.


The State Bank says that in the first half of the current fiscal year, 13 billion 43 million dollars were sent, while in the first half of the fiscal year 2023, workers' remittances were 14 billion 41 million dollars.


According to the State Bank, in the first half of this fiscal year, workers' remittances were 6.8% lower, the average monthly workers' remittances from July to December were 2.23 billion dollars.


The State Bank said that workers' remittances from Saudi Arabia decreased by 8.9% in 6 months, Workers' remittances from the United Arab Emirates decreased by 11% to 2.32 billion dollars in 6 months.