Pakistan’s Workers’ Remittances See Mixed Trends in February 2024

Karachi, Pakistan’s workers’ remittances have shown a complex pattern in February 2024, with a total inflow of $2.2 billion. The month witnessed a decrease of 6.2 percent on a month-to-month basis, yet displayed a significant increase of 13 percent on a year-to-year comparison. This financial year’s first eight months have seen workers’ remittances reaching $18.1 billion, indicating a robust contribution to the national economy from overseas Pakistanis.

According to State Bank of Pakistan, the major sources of these remittances in February 2024 were Saudi Arabia ($539.8 million), the United Arab Emirates ($384.7 million), the United Kingdom ($346.0 million), and the United States of America ($287.4 million). These figures reflect the continuous support of the Pakistani diaspora from these countries, contributing to the financial stability and foreign exchange reserves of Pakistan.

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