Top 10 overseas remittances countries for Pakistan
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The overseas workers' remittances for the month stood at $2.2 billion, indicating a 5.3% growth compared to the previous month's recorded remittances of $2.09 billion. However, on a year-on-year basis, these remittances saw an 8.3% decline in September, with the State Bank of Pakistan reporting remittances of $2.48 billion in the same month of the previous year.
Looking at country-specific inflows, remittances from Saudi Arabia experienced a notable increase of 9.5%, reaching $538.2 million in the reviewed month, up from $491.1 million in the prior month. Similarly, remittances from the United Arab Emirates saw substantial growth, surging by 29.63% as overseas workers sent $399.8 million in September, compared to $308.4 million in the previous month.
Conversely, remittances from the United Kingdom recorded a decline of 5.6%, with remittances totaling $311.1 million in the current year's August, down from $329.8 million in the previous month.
Pakistan expatriates in European countries also witnessed a decline in their remittances, sending $269.3 million in September, showing a 7.39% decrease from the $290.8 million recorded in the prior month.
Lastly, remittances from the United States remained relatively stable, with overseas workers sending $263.4 million in the reviewed month, compared to $262.7 million in August, representing a slight increase of 0.26%.
