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.
