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 Karachi: In July 2022, funds of 2.5 billion dollars were received in the form of workers' remittances.

According to the State Bank, 2.5 billion dollars were received in July 2022 in the form of workers' remittances. Thus, remittances have maintained record inflow of more than 2 billion dollars for 26 consecutive months.

In terms of growth, remittances declined by 8.6% month-on-month and 7.8% year-on-year during July 2022. The decrease is largely a reflection of fewer business days in July due to Eid, which stood at 17, compared to 22 in the previous month and 18 in July 2021.

The main sources of remittance inflows in July 2022 include Saudi Arabia ($580.6 million), United Arab Emirates ($456.2 million), United Kingdom ($411.7 million) and the United States ($254.3 million).