Workers’ remittances increase by 44% to $5.936 bn inflow in two months

ISLAMABAD: The overseas workers’ remittances witnessed an increase of 44 per cent during the first two months of the current fiscal year 2024-25, the State Bank of Pakistan (SBP) latest data said.
The inflow of US$ 5.936 billion was recorded during July-August 2024-25 as compared to the inflow of US $4.123 billion during July-August 2023-24, showing growth of 44 per cent.
Similarly, on a year-on-year basis, the worker’s remittance went up by 40.5 per cent in August 2024 to US $2.942 billion from US $ 2.094 billion during the same month last year.
Remittances inflows during August 2024 were mainly sourced from Saudi Arabia ($713.1 million), the United Arab Emirates ($538.4 million), the United Kingdom ($474.8 million) and the United States of America ($322.4 million).