Home Economy Workers’ remittances fall by 8.6% MoM in July

Workers’ remittances fall by 8.6% MoM in July

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August 16, 2022, (MLN): Workers' Remittances fell by 8.6% to $2.52 billion in the month of July’22, from $2.76bn recorded in the previous month, the latest data issued by SBP showed today.

“Remittances remained strong in July, however, the monthly decline was due to considerably fewer working days because of the Eid holidays. The daily average rate of remittances was 18% higher in July than in June, SBP said in a tweet.

Similarly, on yearly basis, remittances witnessed a fall of 8% from $2.73bn in July 2021.

Country-wise remittances inflows during July 2022 were mainly sourced from Saudi Arabia ($580.6 million), United Arab Emirates ($456.2 million), United Kingdom ($411.7 million), and United States of America ($254.3 million).

Copyright Mettis Link News

Posted on:2022-08-16T16:36:27+05:00

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