Pakistani workers living abroad have sent $2.52 billion in remittances in the month of October 2021, translating to over $2 billion remittances for the 17th straight month, State Bank of Pakistan (SBP) said on Sunday.
According to details, the central bank said that the workers’ remittances continued their strong streak as inflows recorded $2.5 billion in October 2021, up 10.2 percent YoY and only marginally lower compared to 5.7 percent last month.
In addition to remaining above $2 billion since June 2020, this is the eighth consecutive month when remittances have been close to or above $2.5 billion.
On a cumulative basis, remittances have risen to $10.6 billion during the first four months of FY22 (July-October), which is 11.9pc higher than the same period last year (4MFY21).
Remittance inflows during the first four months of FY22 have mainly been sourced from Saudi Arabia from where $2.7 billion was sent, UAE from where $2.0 billion was sent, UK with $1.5 billion, and USA $1.1 billion.
