Remittances sent by overseas Pakistani workers registered an increase to 4.9% MoM $2 billion, compared to $1.89bn in January 2023, data issued by SBP revealed Friday.
According to data issued by the central bank, the workers’ remittances in February 2023 clocked in at $2 billion compared to $1.89 billion in January.
However, on yearly basis, the remittances have dropped by 9.5% YoY as compared to $2.19bn in February 2022.
The inflows mainly came from Saudi Arabia, the United Arab Emirates, the United Kingdom, and the United States of America, with Saudi Arabia being the largest contributor at $454.6 million.
Despite the decline in the yearly comparison, the increase in remittances for the month of February is a positive sign for the economy.
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