Workers’ remittances record $2.5 billion inflow in July
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ISLAMABAD - Workers’ remittances recorded an inflow of $2.5 billion during July 2022, continuing their record streak of above $2 billion for the 26 consecutive months, according to data released by State Bank of Pakistan on Tuesday. In terms of growth, during July 2022, remittances decreased by 8.6 percent on a month-on-month basis and of7.8 percent on year-on-year basis. This decrease largely reflected the lower number of working days in July as a result of Eid, at 17 working days compared to 22 last month and 18 in July 2021.Remittances inflows during July 2022 were mainly sourced from Saudi Arabia ($580.6 million), United Arab Emirates ($456.2 million), United Kingdom ($411.7 million) and United States of America ($254.3 million).