Karachi: For the first time, remittances crossed the monthly mark of $3 billion, beating the previous high of $2.8 billion recorded in March of FY22.
According to a statement released by the State Bank of Pakistan, cumulatively, at $26.1 billion, remittances grew by 7.6 % in the ten months of FY22 compared to the same period in FY21.
Remittances crossed the monthly mark of US $3 billion for the first time. Cumulatively, at $26.1 billion, remittances grew by 7.6 % in the ten months of FY22 compared to last year.https://t.co/7XBd4uNES4 pic.twitter.com/8fDthGpYBi
— SBP (@StateBank_Pak) May 13, 2022
It is also pertinent to mention that as per the statistics, money sent by overseas Pakistanis from Saudi Arabia in April led the list, with workers sending $707.2 million from the Kingdom.
Similarly, remittances from the United Arab Emirates ($614.1 million) and the United Kingdom ($484 million) take second and third place.