Business
Pakistan records 17% surge in workers’ remittances in September
Islamabad: Pakistan received 16.9 per cent more remittances from overseas Pakistani workers in September this year.
According to data released by State Bank of Pakistan (SBP) on Friday, the remittances remained above $2 billion for the 16th consecutive month as those recorded $2.7 billion in September 2021.
In terms of growth, the remittances increased by 0.5% over previous month and soared by 16.9% over the same month last year.
Cumulatively, remittances reached to $8.0 billion in first quarter of Fiscal Year 2021-22, a significant growth of 12.5% over the same period last year.
The historic increase in the inflows has helped improving the country’s external sector position despite the challenging global economic conditions in the past year.