Workers’ remittances decline 6.2% MoM in February 

Remittances increase by 13% YoY, reaching a total of $2.2 billion

Pakistani expatriates sent $2.2 billion home in February 2024, an amount 6.2% less on a monthly basis than $2.4 billion remitted in January 2024, the latest data released by the State Bank of Pakistan (SBP) on Friday shows. 

However, when compared on a year-on-year basis, there is an increase of 13% from the remittances of $1.99 billion received during February 2023. 

The SBP data shows that the cumulative inflow of workers’ remittances was recorded at $18.1 billion during the first eight months (July-Feb) of the fiscal year 2024. 

Pakistani expatriates in Saudi Arabia led the remittances for February 2024, sending $539.8 million, despite an 8% monthly decrease. 

However, this figure represents a 19% increase from the $454.9 million remitted in February of the previous year.

Remittance flows from the United Arab Emirates (UAE) showed a 6% reduction from January’s $407.6 million to $384.7 million in February. Nonetheless, this amount shows a yearly growth of 19% from the $324.1 million recorded in the same month last year.

The United Kingdom contributed $346 million in remittances for the month, marking a 4.5% decrease from January 2024’s $362.2 million.

Remittances from the European Union also declined by 9% on a monthly basis but saw a 7% increase on a yearly basis, totaling $263.4 million in February 2024.

From the United States, Pakistani expatriates remitted $287.4 million in February 2024, reflecting a significant year-on-year surge of 31% from $219.8 million in the same month of the previous year.

3 COMMENTS

  1. I promised Dr Kala to share to the entire public if he could help me to get my ex wife back which prompted me to write this beautiful testimony for the amazing things Dr Kala did for me by getting my ex wife back to me after she filed for a divorce. I love my wife so much and i could not accept the fact that i am loosing her, so i went into research to get some tips on how i could get my wife back and i saw a comment on one of the forum, a lady testifying how she was able to get her ex back by reaching out to Dr Kala and i also contact Dr Kala on email and explain my problem to him and he helped me to get my wife back within 2days and my wife stopped the divorce and return back to me, promising me that she will never leave me again and also beg for me to forgive her which i did and right now i am enjoying my marriage and all thanks to Dr Kala the great spell caster who is capable of bringing back ex lover and put an end to your divorce, marriage and relationship problems. You can as well reach out to Dr Kala on email: kalalovespell@gmail. com or WhatsApp +2347051705853

  2. Good works deserves good recommendation, I was heart broken when my husband left me and moved to California to be with another woman. I felt my life was over and my kids thought they would never see their father again. I tried to be strong just for the kids but I could not control the pains that tormented my heart, my heart was filled with sorrows and pains because I was really in love with my husband. I have tried many options but he did not come back, until i met a friend that directed me to Dr.Excellent a spell caster, who helped me to bring back my husband after 11hours. Me and my husband are living happily together again, This man is powerful and if you have any problem? just tell him your situation and he will help you… Here his contact. WhatsApp him at: +2348084273514 “Or email him at: Excellentspellcaster@gmail. com

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Must Read

Important issues need to be addressed as Pakistan engages for new...

Georgieva highlights the tax base, public spending, and a transparent environment as issues the country needs to solve