Karachi, June 11, 2022 (PPI-OT):At US $2.3 billion in May 2022, workers’ remittances have continued to remain above the $2 billion mark since June 2020.
In terms of growth, remittances decreased by 25.4 percent on m/m basis and 6.9 percent on y/y basis, largely reflecting the usual seasonal post Eid decline and associated long holiday.
Cumulatively, at $ 28.4 billion, remittances have grown by 6.3 percent (y/y) during the first 11 months of FY22.
Remittances in May 2022 were mainly sourced from Saudi Arabia ($542 million), United Arab Emirates ($435 million), United Kingdom ($354 million) and the United States of America ($233 million).
For more information, contact:
State Bank of Pakistan (SBP)
I.I. Chundrigar Road, Karachi, Pakistan
Fax: +92-21-39212433 – 39212436