Wednesday, December 4, 2024

Pakistan Receives Record Remittance of $2.8 Billion in April

Remittances from Pakistanis living abroad have continued to climb, reaching a new high of 22.8 billion dollars in April 2021.

Remittances were 56 percent higher in April than a year ago, according to the State Bank of Pakistan (SBP).

Total remittances from abroad workers reached an all-time high of $24.2 billion in fiscal year 2021, up 29 percent from the same period the previous year.

The central bank reported that remittances totaled more than a billion dollars for the entire fiscal year 2020, a new high.

Saudi Arabia received the biggest sum of overseas remittances ($6.4 billion) from July to April.

The United Arab Emirates contributed $5.8 billion, the United Kingdom contributed $3.33 billion, and the United States contributed $2.22 billion.

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