KARACHI:In terms of growth, remittances decreased by 25.4 percent on monthly basis and 6.9 percent on year on year basis, largely reflecting the usual seasonal post Eid decline and associated long holiday.
Cumulatively, at $ 28.4 billion, remittances have grown by 6.3 percent year on year basis during the first 11 months of fiscal year 2021-22, said SBP release on Friday.
Remittances in May 2022 were mainly sourced from Saudi Arabia ($542 million), United Arab Emirates ($435 million), United Kingdom ($354 million) and the United States of America ($233 million).