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During 7MFY22, workers in Pakistan sent record remittances

Remittances reached a new high of $18 billion in the first seven months of FY22, up 9.1% over the same period previous year. Workers’ remittances stayed over $2 billion for the 20th month in a row in January 2022, at $ 2.14 billion.

Remittances fell 5% in January 2021 compared to January 2021, owing in part to the relaxation of travel restrictions. Due to seasonality, they declined by 14.9 percent from the previous month.

Also read: In just five months, remittances have increased by 10% to $13 billion

The breakdown shows remittance inflows during January 2022 were mainly sourced from Saudi Arabia ($540 million), United Arab Emirates ($374 million), United Kingdom ($320 million) and United States of America ($208 million).

 

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