Karachi : The data released by the State Bank of Pakistan (SBP) on Monday said Pakistan’s Workers’ remittances recorded an inflow of US$ 2.9 billion during November, 2024.
It noted that in terms of growth, remittances increased by 29.1 percent in November, 2024 on y/y basis.
SBP further said cumulatively, with an inflow of US$ 14.8 billion, workers’ remittances increased by 33.6
percent during Jul-Nov, FY25 compared to US$ 11.1 billion received during Jul-Nov, FY24.
The remittances inflows during November, 2024 were mainly sourced from Saudi Arabia ($729.2
million), United Arab Emirates ($619.4 million), United Kingdom ($409.9 million) and United
States of America ($288.2 million.
Pakistan is heavily dependent on the inflows of workers remittances to plug in its forex reserves . The rise in inflows of the worker remittances can also reduce Islamabad ‘s reliance on foreign loans to some other extent.
