• About
  • Advertise
  • Contact
Sunday, July 3, 2022
  • Login
WRITE FOR US
Economy.pk
  • Economy
  • Politics
  • Technology
  • Education
  • Life & Style
  • Health
  • World
No Result
View All Result
Economy.pk
  • Economy
  • Politics
  • Technology
  • Education
  • Life & Style
  • Health
  • World
Economy.pk
Home Business Finance

Pakistan Receive Record $28.4bn remittances

bySuneela Zulfiqar
June 11, 2022
in Finance
Reading Time: 2 mins read
0
Pakistan Receive Record $28.4bn remittances
480
SHARES
6.1k
VIEWS
Share on FacebookShare on Twitter

KARACHI: Pakistan received a record over $28 billion in remittances during the first 11 months of the outgoing fiscal year, showing an increase of 6.3 per cent over the same period last year.

However, the inflow in May was much lower than in April while it was even less than the remittances sent in May 2021. The overseas Pakistanis remitted $2.332bn in May compared to a record monthly figure of $3.125bn in the preceding month. The inflow in May 2021 was $2.506bn.

RelatedPosts

FBR increases taxes on business class airline tickets

Pakistan’s startups raise $103mn in April-June, amount 40% lower on quarterly basis

Outflow from domestic bonds exceeds $1bn in FY22

Remittances recorded at $14.2bn in 6 months, up 24.2% from last year. Interestingly, GoP full year target is $21bn, SBP $24-26bn. The current run rate indicates $28.4bn. Tangent Capital expects GDP to score 4-5%, against expectations of 2.1%

The State Bank of Pakistan (SBP) reported on Friday that the remittances during July-May FY22 were $28.4bn compared to $26.7bn in the same period of last year.

According to data released by the State Bank of Pakistan (SBP) on Friday, At $2.3bn in May, workers’ remittances have continued to remain above the $2bn mark since June 2020, and remittances’ inflows during May 2022 were mainly sourced from Saudi Arabia ($541.9 million), United Arab Emirates ($435 million), United Kingdom ($354 million) and the United States of America ($232.9 million).

On a year-on-year basis, the remittances decreased from $2.5 billion in May 2021 to $2.3 billion in the same period of the current fiscal year. On a month-on-month basis, the inflows of remittances also declined from $3.1 billion in April 2022 to $2.3 billion in April 2022.

The highest remittances of about $7.059 billion were received from Saudi Arabia during the July-May period. Inflows from the UK and US grew 8.5pc and 18.5pc to $4.025bn and $2.8bn, respectively.

Tags: latestPakistanremittancesState Bank of Pakistan
Suneela Zulfiqar

Suneela Zulfiqar

Related Posts

FBR increases taxes on business class airline tickets

FBR increases taxes on business class airline tickets

The Federal Board of Revenue (FBR) has increased the tax amount on business class passengers from Rs10,000 to Rs50,000. This...

Pakistan’s startups raise $103mn in April-June, amount 40% lower on quarterly basis

Pakistan’s startups raise $103mn in April-June, amount 40% lower on quarterly basis

Pakistan's startup sector saw a sharp decrease in fundraising during the second quarter of the current calendar year (April-June 2022),...

Next Post
Rs3.47 billion allocated for sports sector

Rs3.47 billion allocated for sports sector

Recommended

MG 3 Will Cost Less Than Suzuki WagonR

MG 3 Will Cost Less Than Suzuki WagonR: Javed Afridi

Govt buildings will be switched to solar energy: Marriyum

Govt buildings will be switched to solar energy: Marriyum

Govt to provide export friendly environment to business community in Pakistan

Govt to provide export friendly environment to business community in Pakistan

5 more palm oil carrying ships to arrive by July 10

5 more palm oil carrying ships to arrive by July 10

Dr. Aafia Siddiqui's mother passes away

Dr. Aafia Siddiqui’s mother passes away

FBR increases taxes on business class airline tickets

FBR increases taxes on business class airline tickets

Connect with us

Twitter

Economy.pk

Economy.pk touches diverse topics with a lighter note and is geared toward audiences with various interests and all ages. Come and explore Economy.pk. Ample details and analysis are provided in extraordinarily readable manner making them compelling and interesting at the same time.

Category

  • World
  • Politics
  • Business
  • Technology
  • Education
  • Health
  • Life & Style
  • Opinions

Social Media

  • Facebook
  • Instagram
  • Twitter
  • Linkedin

Sitelinks

  • Sitemap

Download our APP

download on android app download on apple app
  • About
  • Advertise
  • Contact

© 2022 All Rights Reserved Economy.pk | Designed & Developed by Digital Otters

  • LATEST
  • World
    • Europe
    • Americas
    • Asia
    • Oceania
    • Africa
    • Canada
    • Middle East
  • Finance
  • Politics
  • Business
    • Economy
    • Finance
    • Entrepreneurship
    • Real Estate
  • Technology
    • Cyber Security
    • Mobiles
    • Social Media
  • Education
  • Sports
  • Life & Style
    • Personalities
    • Art
    • Culture
    • History
    • Entertainment
    • Fashion
    • Food
    • Health
      • Environment
      • Fitness
  • Sponsored

© 2022 All Rights Reserved Economy.pk | Designed & Developed by Digital Otters

No Result
View All Result

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In