ISLAMABAD: The overseas workers’ remittances registered an inflow of 2.4 billion dollars during January 2024, the State Bank of Pakistan (SBP) said on Monday.
In terms of growth, during the month under review, remittances went up by 0.6% on a month-on-month (MoM) basis and 26.2% on a year-on-year (YoY) basis.
Workers’ remittances inflow of 15.8 billion dollars has been recorded during the first seven months of the fiscal year 2023-24.
Major Sources of Remittances
Remittances inflows during last month were mainly sourced from Saudi Arabia (587.3 million dollars), the United Arab Emirates (407.6 million dollars), the United Kingdom (362.1 million dollars), and the United States of America (283.4 million dollars).
Overseas workers’ remittances are a major part of the national economy as millions of overseas Pakistanis send their hard-earned money to their families and loved ones on a regular basis to meet their daily needs.
