KARACHI: According to data released by SBP on Monday, remittances sent by Pakistani workers abroad increased by 1% MoM basic to $2.53 billion in January 2024 from 26% in the same month the previous year.
However, in the first seven months of FY2023–24, remittances decreased by 3%. During that time, Pakistanis living abroad sent $15.80 billion.
Saudi Arabia was the highest contributor with $580.7 million, followed by the United Arab Emirates, the United Kingdom, and the United States of America.
According to a State Bank of Pakistan (SBP) study, during the first five months of the current fiscal year (2023–24), Pakistan’s exports of products and services to China increased by 39.44% as compared to the same time previous year.
According to SBP data, total exports to China from July to November of 2023–24 were $1223.532 million, compared to $877.444 million in exports during the same period in 2022–2023.
Year over year, the amount of goods sent to China increased from $199.058 million in November 2022 to $271.316 million in November 2023, a 36.29% increase.
