Pakistan receives record monthly high $3 billion as remittances State Bank of Pakistan

Pakistan receives record monthly high $3 billion as remittances

KARACHI: Pakistan has received a monthly record workers’ remittance of $3.13 billion in the month of April 2022, the central bank said on Friday.

The State Bank of Pakistan (SBP) said the remittances grew by 12 per cent in April 2022 to $3.125 billion as compared with $2.79 billion received in April 2021. Meanwhile, the country received $2.81 billion in the month of March 2022.

READ MORE: SBP receives $2.2 bn as workers remittances in February

The inflow of remittances recorded 7.6 per cent growth to $26.08 billion during the first 10 months (July – April) 2021/2022 when compared with $24.23 billion in the corresponding months of the last fiscal year.

Pakistanis living in the USA have sent $2.556 billion during July – April 2021/2022, which is 20 per cent higher when compared with $1.4 billion in the same period of the last fiscal year.

READ MORE: Remittances increase to record $18 billion in 7 months

The SBP received an amount of $3.67 billion during the first ten months of the current fiscal year from Pakistani workers living in the UK as compared with $1.98 billion in the corresponding period of the last fiscal year, showing an increase of 9.9 per cent.

Pakistanis living in Saudi Arabia sent an amount of $6.41 billion during the period under review as compared with $5.32 billion in July – April 2020/2021, showing a growth of 1.6 per cent.

READ MORE: Pakistani overseas workers send $15.8 billion in 1HFY22

The inflows of remittances from the UAE, however, posted a decline of 3.6 per cent to $4.90 billion during the first 10 months of the current fiscal year as compared with $5.08 billion in the same period of the last fiscal year.

Pakistanis living in the EU countries have sent an amount of $2.80 billion during the first ten months of the current fiscal year as compared with $2.21 billion in the same period of the last fiscal year, showing a growth of 27.1 per cent.

READ MORE: PM Imran launches incentive program for remittances

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