Workers’ remittances fall by 6.2% MoM to $2.25bn in February

MG News | March 08, 2024 at 02:59 PM GMT+05:00

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March 08, 2024 (MLN): Workers' remittances have decreased by 6.18% MoM in February to $2.25 billion, compared to $2.4bn in the previous month, the latest data issued by SBP revealed today.

Meanwhile, on a yearly basis, workers' remittances increased by 13.03% YoY as compared to $1.99bn in the same month last year.

The inflows mainly came from Saudi Arabia, contributing $539.84 million, followed by the UAE with $384.71m, the U.K. with $345.97m, USA with 287.39m, and the EU Countries with 263.38m.

While on a cumulative basis, in 8MFY24, the total remittances stood at $18.08bn as compared to $18.31bn worth of inflows received in 8MFY23, depicting a fall of 1.23% YoY.

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