KARACHI: Saudi Arabia retained its position as the largest contributor of remittances to Pakistan in November, with expats working in the kingdom sending $498 million to the South Asian nation last month, the central bank said on Wednesday.
In terms of growth, latest figures showed that remittances decreased by 4.8 percent month-on-month and by 14.3 percent on a year-on-year basis.
“Remittances inflows during Nov 2022 were mainly sourced from Saudi Arabia ($498 million), United Arab Emirates ($377.8 million), United Kingdom ($299.1 million) and United States of America ($229.4 million),” the central bank said.
“With cumulative inflow of $ 12 billion during Jul-Nov FY23, the remittances decreased by 9.6 percent as compared to the same period last year.”
Saudi Arabia and the UAE are longtime allies of Pakistan. Nearly 2.5 million Pakistani expats live and work in the kingdom and more than 1.6 million in the UAE.











