Workers send record emittances in July 2022

Workers’ remittances recorded an inflow of US$2.5 billion during July 22, continuing their record streak of above $2 billion for the 26 consecutive months.  

In terms of growth, during July 2022, remittances decreased by 8.6 percent on a m/m and of 7.8 percent on y/y 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).

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Posted in Banking & Insurance News.

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