Remittances from Pakistanis in Saudi Arabia exhibited a 6% year-on-year increase in November, as per data from the State Bank. In November 2023, these workers sent $540 million in foreign exchange, marking a 6% rise compared to the corresponding period in the preceding fiscal year.

For the same timeframe in the previous fiscal year, remittances from Saudi Arabia totaled $512 million. However, there was a 12% monthly decline in November compared to October, when remittances stood at $617 million, dropping to $540 million in November.

Over the initial five months of the ongoing fiscal year, Pakistani workers in Saudi Arabia contributed a total of $2.673 billion in foreign exchange. In contrast, during the corresponding period in the prior fiscal year, remittances from this group amounted to $3.041 billion.

It’s important to note that the overall remittance volume from overseas Pakistanis in the initial five months of the current fiscal year was recorded at $11.045 billion, reflecting a 10% decrease from the same period in the previous fiscal year when it stood at $12.318 billion.

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