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Tuesday, November 5, 2024

Home Business Pakistan records significant increase in workers’ remittances

Pakistan records significant increase in workers’ remittances

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KARACHI – Pakistan recorded workers’ remittances inflow of $3 billion during March 2024.

As per the data released by the State Bank of Pakistan (SBP) on Monday, remittances increased significantly by 31.3 per cent on month on month basis and 16.4 per cent on year on year basis. Workers’ Remittances recorded an inflow of $21 billion during first nine months of FY24 and showed an increase of 0.9 per cent as compared to $20.8 billion remittances during 9MFY23.

Workers’ Remittances inflows during March 2024 were mainly sourced from Saudi Arabia ($703.1 million), United Arab Emirates ($548.5 million), United Kingdom ($461.5 million) and United States of America ($372.5 million).