ISLAMABAD: Remittances to Pakistan have significantly increased, rising by 29% from September 2023. Recent data indicates that in September, Pakistan received $680 million from Saudi Arabia and $560 million from the United Arab Emirates.
Overseas Pakistanis sent $8.78 billion in total during the first quarter of the current fiscal year 2024–25, a stunning 39% rise over the same period in the previous fiscal year 2024.
Over the course of these three months, the average monthly remittance was $2.92 billion.ISLAMABAD: Remittances to Pakistan have significantly increased, rising by 29% from September 2023. Recent data indicates that in September, Pakistan received $680 million from Saudi Arabia and $560 million from the United Arab Emirates.
Overseas Pakistanis sent $8.78 billion in total during the first quarter of the current fiscal year 2024–25, a stunning 39% rise over the same period in the previous fiscal year 2024.
Over the course of these three months, the average monthly remittance was $2.92 billion.
Analyzing the numbers, Pakistanis living in Saudi Arabia contributed significantly, sending $2.15 billion during the course of the three months.
All of the UAE citizens sent $1.70 billion to Pakistan in the meantime.
In addition, $1.34 billion was contributed by Pakistanis residing in the UK, and $1.09 billion was received in remittances from the European Union. Remittances from the United States amounted to $890 million, while $860 million came from other Gulf nations.
During the same three-month period, the total amount of remittances sent by Pakistanis residing outside surpassed the monies obtained from the International Monetary Fund’s three-year program.
