In 11 months, workers’ remittances increased by 6.3 percent to $28.4 billion

• The overseas Pakistani workers’ remittances grew by 6.3 percent in 11 months (Jul-May) of current fiscal year to $28.4 billion against inflows of $26.7 billion in same period of previous year.
• Remittances’ inflows during May 2022 were mainly sourced from Saudi Arabia ($541.9 million), United Arab Emirates ($435m), United Kingdom ($354m) and the United States of America ($232.9m). Inflows from Germany, France.
• The Netherlands, Spain, Italy, Greece, Sweden, Denmark, and Ireland were recorded at $41.5m, $38m and $52m respectively.

The abroad Pakistani specialists’ settlements developed by 6.3 percent in 11 months (Jul-May) of current financial year remittances to $28.4 billion against the inflows of $26.7 billion in same time of the earlier year.

On year-on-year premise, the settlements diminished from $2.5 billion in May 2021 to $2.3 billion in same time of current financial year.

On month-on-month premise, the inflows of settlements additionally declined from $3.1 billion in April 2022 to $2.3 billion in April 2022.

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As per information delivered by State Bank of Pakistan (SBP) on Friday, settlements’ inflows during May 2022 were chiefly obtained from Saudi Arabia ($541.9 million), United Arab Emirates ($435 million), United Kingdom ($354 million) and the United States of America ($232.9 million).

During the comparing month, the abroad Pakistanis residing in Bahrain sent $39.1 million, from Kuwait $67 million, from Qatar $76 million while $114.6 million were dispatched from Oman. Comparably the inflows from Germany, France, The Netherlands, Spain, Italy, Greece, Sweden, Denmark, and Ireland were recorded at $41.5 million, $38.0 million, $5.0, $43.3 million, $68.8 million, $30.2 million, $6.0 million, $5.2 million and $12.8 million individually. Similarly, from Malaysia, Belgium, Norway, Switzerland, Australia, Canada, and Japan, the laborers dispatched $10.9 million, $19.2 million, $11.0 million, $3.1 million, $52.7 million, and 5.7 million separately.