Remittances of overseas Pakistanis increase significantly

Islamabad: During the month of October, 2.5 billion dollars was received in the form of remittances from overseas Pakistanis.

According to a statement issued by the State Bank of Pakistan (SBP) on Friday, in October 2023, the remittances of overseas Pakistanis increased by 11.5 percent on a monthly basis and 9.6 percent on an annual basis in terms of growth.

During the first four months of the financial year, an amount of 8.8 billion dollars was received in the form of remittances.

The remittances of $616.8 million were received from Pakistanis residing in Saudi Arabia, $473.9 million from the United Arab Emirates (UAE), $330.2 million from the United Kingdom, and $283.3 million from Pakistanis residing in the United States during October 2023.