Remittance inflow surges by 5.4% in december 2023, reaching $2.4 billion
Karachi, Jan 10: Overseas Pakistanis have marked a notable uptick in remittances, recording a 5.4% increase in December 2023 compared to the previous month. The latest data released by the State Bank of Pakistan reveals that remittances from overseas Pakistanis totaled $2.4 billion in December 2023, reflecting a significant surge from November 2023 and a substantial 13.4% rise from December 2022.
According to the State Bank's report, the first half of the fiscal year 2024 has witnessed a cumulative remittance influx of $13.4 billion from workers abroad.
In the breakdown of December 2023 remittances, Saudi Arabia led the chart with the highest contribution of $577.6 million, followed by $419.2 million from the United Arab Emirates, $368 million from the United Kingdom, and $263.9 million from the United States.
The positive trajectory in remittance inflow is indicative of continued support from the Pakistani diaspora, contributing significantly to the country's economic stability.
