The overseas workers’ remittances for the month stood at $2.2 billion,indicating a 5.3% growth compared to the previous month’s recordedremittances of $2.09 billion. However, on a year-on-year basis, theseremittances saw an 8.3% decline in September, with the State Bank ofPakistan reporting remittances of $2.48 billion in the same month of theprevious year.
Looking at country-specific inflows, remittances from Saudi Arabiaexperienced a notable increase of 9.5%, reaching $538.2 million in thereviewed month, up from $491.1 million in the prior month. Similarly,remittances from the United Arab Emirates saw substantial growth, surgingby 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, downfrom $329.8 million in the previous month.
Pakistan expatriates in European countries also witnessed a decline intheir remittances, sending $269.3 million in September, showing a 7.39%decrease from the $290.8 million recorded in the prior month.
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Lastly, remittances from the United States remained relatively stable, withoverseas workers sending $263.4 million in the reviewed month, compared to$262.7 million in August, representing a slight increase of 0.26%.