ISLAMABAD, Oct 13 (ABC):The overseas workers’ remittances posted a decline of 6.3 percent during first quarter (Jul-Sept) of fiscal year 2022-23 as the remittances fell from $8.2 billion in same period of last year to $7.7 billion in the period under review. On year-on-year basis, the overseas workers’ remittances recorded an inflow of US$2.4 billion in September 2022, posting a decrease of 12.3 percent as compared with the previous month’s inflow of $2.8 billion. On month-on-month basis, the remittances in September 2022 also witnessed a decline of 10.5 percent when compared with the inflow of $2.7 billion recorded in August 2022.
According to a recent data released by State Bank of Pakistan (SBP), remittances’ inflows during July-September, 2022 were mainly sourced from Saudi Arabia ($1.9 billion), followed by United Arab Emirates ($1.46 billion), United Kingdom ($1.1 billion) and the United States of America ($762 million). During the corresponding month, the overseas Pakistanis living in Bahrain sent $128.6 million, from Kuwait $222.3 million, from Qatar $248.2 million whereas $278 million were dispatched from Oman.
Similarly the inflows from Germany, France, The Netherlands, Spain, Italy, Greece, Sweden, Denmark, Belgium, and Ireland were recorded at $122.8 million, $112.3 million, $14.2 million, $137 million, $227.1 million, $93.1 million, $18.8 million, $16.5 million, $53.6 million and $33.3 million respectively. Likewise, from Malaysia, Norway, Switzerland, Australia, Canada, and Japan, the workers dispatched $37.6 million, $32.3 million, $9.9 million, $170.8 million, $159.6 million, $56.3 million, and $21.1 million respectively. Remittances from South Africa during the month under review stood at $76.9 million while that from South Korea stood at $24.4 million. Similarly $189.6 million were received from other countries.
