Workers’ remittances decline by 7.3pc in July: SBP

KARACHI: The State Bank of Pakistan (SBP) has said that remittances sent home by overseas Pakistani workers declined by 7.3 percent and reached $2.0268 billion in July, a drop of 19.7 percent on a year-on-year basis.

According to the data provided by State Bank of Pakistan (SBP), the inflow of overseas Pakistani workers’ remittances clocked at $$2.0268 billion in July 2023 against $2.51 billion in the same month last year.

The SBP data shows, overseas Pakistanis workers in Saudi Arabia remitted $486 million, United Arab Emirates (UAE) sent $315 million, $305.7 million from United Kingdom (UK) and $238.1 million from United States (US).