Pakistan witnessed a surge in workers’ remittances during April 2024, with an inflow of $2.8 billion, marking an increase of 27.9 percent compared to the same period last year, according to data released by the State Bank of Pakistan (SBP) on Thursday.
On a month-over-month basis, workers’ remittances declined by 4.8% MoM as compared to $2.95 billion in March 2024.
Cumulative inflow of remittances recorded $23.8 billion during the first 10 months (July to April) of FY24, showcasing an increase of 3.5 percent compared to the corresponding period in the previous fiscal year.
Saudi Arabia led as the top source country from where overseas Pakistanis remitted $712 million to their home country.
Following closely behind were the United Arab Emirates ($542.3 million), United Kingdom ($403.2 million), the United States of America ($329.2 million) and European Union countries ($297.95 millin).
