Remittances surge by 29% YoY to $3.1bn in December

By MG News | January 10, 2025 at 10:04 AM GMT+05:00

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January 10, 2025 (MLN): Workers' remittances have increased by 29.3% in December to $3.08 billion, compared to $2.38bn in the same month of last year, the latest data issued by SBP revealed today.

Meanwhile, on a monthly basis, workers' remittances inched up by 5.62% as compared to $2.91bn in the previous month.

On a cumulative basis, in 6MFY25, the total remittances stood at $17.84bn as compared to $13.43bn worth of inflows received in 6MFY24, depicting a rise of 32.8%.

During the month, Saudi Arabia held the top spot, contributing $770.6 million. This figure was up 33.4% compared to a year ago.

The second biggest inflow was from UAE as they sent $631m during November, up 50.7% YoY.

Pakistanis working in U.K. sent $456.9m during the month, up 24.2% compared to the same month of last year.

Moreover, the inflows from EU Countries clocked in at $360.3m, which was up 26.5% YoY.

The data further shows that remittances sent by Pakistanis working in Other GCC Countries rose by 21.5% YoY to $310m.

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