Workers’ remittances rise to $18bn in 7MFY22

MG News | February 11, 2022 at 07:28 PM GMT+05:00

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February 11, 2022 (MLN): Workers’ remittances rose to $18 billion during 7MFY22 which was 9.1% higher than the same period last year, Central Bank data showed on Friday.

In January 2022, remittances moderated to $2.14 when compared to $2.52 in December 2021 due to seasonality but remained above the $2bn threshold for the 20th consecutive month.

While, on yearly basis, remittances declined by 5% compared to January 2021, partly reflecting an easing of travel restrictions.

Remittance inflows during January 2022 were mainly sourced from Saudi Arabia ($540 million), United Arab Emirates ($374mn), United Kingdom ($320mn) and United States of America ($208mn).

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