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Thursday, December 26, 2024

Home Business Pakistan records workers’ remittances inflow of $3.2 billion in May 2024

Pakistan records workers’ remittances inflow of $3.2 billion in May 2024

by Staff Report
June 7, 2024
in Business, Pakistan

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KARACHI – Pakistan recorded workers’ remittances inflow of $3.2 billion during May 2024.

As per the data released by the State Bank of Pakistan (SBP) on Friday, workers’ remittances increased by 15.3 per cent on month on month basis and by 54.2 per cent on year on year basis in May 2024.

Cumulatively, with inflow of $27.1 billion workers’ remittances increased by 7.7 per cent during the first 11 months of fiscal year 2024 compared to the same period last year.

Remittances inflows during May 2024 were mainly sourced from Saudi Arabia ($819.3 million), United Arab Emirates ($668.5 million), United Kingdom ($473.2 million) and United States of America ($359.5 million).