The State Bank of Pakistan (SBP) announced on Friday that remittances from Pakistani employees overseas have surpassed $3 billion for the first time, with Saudi Arabia and the United Arab Emirates contributing the most.
Saudi Arabia ($707 million), the United Arab Emirates ($614 million), the United Kingdom ($484 million), and the United States of America ($346 million) were the largest sources of remittances in April 2022.
“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,” says a statement issued by the SBP.
In terms of growth, remittances have been increased by 11.2 per cent on a month-on-month basis, and 11.9 per cent on a yearly basis
