Pakistan's remittances decrease 12.9 pct in April: central bank
Source: Xinhua | 2023-05-11 | Editor:Christine
Remittances sent by overseas Pakistani workers decreased 12.9 percent in April on a month-on-month basis, the State Bank of Pakistan said on Wednesday.
The workers' remittances recorded an inflow of 2.21 billion U.S. dollars in April as compared to the figure of 2.54 billion dollars in the previous month, the central bank said.
With a cumulative inflow of 22.74 billion dollars in the first 10 months of the current fiscal year starting from July 2022 to June 2023, the remittances fell by 13 percent on a yearly basis, the figures showed.
Last month, overseas remittances mainly came from Saudi Arabia with 489.3 million dollars, the United Arab Emirates with 382.1 million dollars, Britain with 360.7 million dollars, and the United States with 275.8 million dollars, according to the bank.
Remittances by overseas workers play an important role in Pakistan's economy as they are one of the major sources of foreign exchange.
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