With $2.2 billion of inflows during February 2022, workers’ remittances continued their strong performance and have remained above $2 billion since June 2020.
In terms of growth, during February 2022, remittances increased by 2 percent on m/m basis despite fewer working days compared to January and fell by 2.7 percent on y/y basis.
Cumulatively at $ 20.1 billion, remittances grew by 7.6 percent during the eight months of FY22 compared to the same period last year.
Remittances inflows during February 2022 were mainly sourced from Saudi Arabia ($558 million), United Arab Emirates ($387 million), United Kingdom ($319 million) and United States of America ($210 million).
