Remittances rose to historic high of $2.8 billion in March 22: SBP

Karachi: The country received record-high remittances of $2.8 billion in the month of March, the State Bank of Pakistan (SBP) said on Thursday. 

The remittances are 28.3 per cent higher over last month and 3.2pc more than the same month last year, .

"Workers’ remittances rose to their highest level in history at $2.8 billion in March 22. Cumulatively, remittances have risen to $23 billion during the first 9 months of FY22," the central bank said.

"Cumulatively at $ 23bn, remittances grew by 7.1pc during first three quarters of FY22 compared with last year."

Workers’ remittances rose to their highest level in history at $2.8 billion in March 22. Cumulatively, remittances have risen to $23 billion during the first 9 months of FY22, up 7.1% over the same period last year. https://t.co/7XBd4uNES4 pic.twitter.com/2Aw7WjtwKA

— SBP (@StateBank_Pak) April 14, 2022

The SBP data shows that remittances from the entire Arab region have recorded significant growth.

"Remittances inflows during March 2022 were mainly sourced from Saudi Arabia ($678mn), United Arab Emirates ($515mn), United Kingdom ($401mn) and the United States of America ($300mn)," the central bank added.