Foreign Remittances in Pakistan register significant increase
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Pakistani workers abroad have cumulatively sent $2.76 billion during June this year.
In terms of growth, remittances increased by 18.4% compared to May’s $2.33 billion. Inflows increased by 1.7% year-on-year basis.
Remittance inflows during June this year mostly originated in Saudi Arabia from where Pakistanis sent $666 million. $495 million were sent from Pakistanis in the United Arab Emirates.
Remittances from the United Kingdom and the United States of America stand at $455 million and $285 million, respectively.
During the fiscal year 2022, total remittances rose to a record $31.2 billion. This is 6.1 per cent higher than compared to remittances received in FY21.
