Pakistan’s January 2024 Remittances $2.4 Billion Saudi Arabia Leads, China Exports Surge – SBP
According to data issued by the central bank, the workers’ remittances in January 2024 clocked in at $2.40 billion in January.
During Jan 24, workers’ remittances recorded an inflow of US$2.4 billion.
For details see https://t.co/rPOvn9CTjfhttps://t.co/7XBd4uNES4#SBPRemittances pic.twitter.com/BJ79w2B0fs— SBP (@StateBank_Pak) February 12, 2024
However, the remittances have dropped by 3% in the first seven months of FY2023-24. During the period $15.80 bln was sent by overseas Pakistanis.
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 $580.7 million.
In January, Pakistan’s export of goods and services to China witnessed an increase of 39.44 percent during the first five months of the current fiscal year (2023-24) as compared to the exports of the corresponding period of last year, State Bank of Pakistan (SBP) reported.
The overall exports to China were recorded at US $1223.532 million during July-November (2023-24) against exports of US $877.444 million during July-November (2022-23), SBP data revealed.
On a year-to-year basis, the exports to China also surged by 36.29 percent from $199.058 million in November 2022, against the exports of $271.316 million in November 2023.
