Karachi Sees Surge in Workers’ Remittances in April 2024

Karachi, The State Bank of Pakistan reported a significant increase in workers’ remittances, with inflows reaching $2.8 billion in April 2024. This represents a substantial 27.9 percent year-on-year growth for the month, underscoring a positive trend in the economic contributions from Pakistani workers abroad.

According to State Bank of Pakistan, the rise in remittances during April was primarily driven by contributions from Saudi Arabia and the United Arab Emirates, with remittances from these countries amounting to $712 million and $542.3 million respectively. The overall remittances for the first ten months of the fiscal year 2024 have totaled $23.8 billion, marking a 3.5 percent increase compared to the same period in the previous year. This growth indicates the significant role that remittances continue to play in supporting Pakistan’s economy.