The State Bank of Pakistan (SBP) announced that overseas workers’ remittances totaled US$2.2 billion in February 2024.
In terms of growth, remittances showed a decrease of 6.2% on a month-on-month basis for the month under review. However, compared to the same period last year, remittances saw a 13% increase.
For the first eight months of the fiscal year 2023-24, a total of US$18.1 billion in remittances inflow has been recorded.
The main sources of remittance inflows during 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).
