Business
Pakistan receives record $3.24bn remittances in May
On a month-on-month (MoM) basis, the inflow of remittances registered an increase of 15.3pc
![Pakistan receives record $3.24bn remittances in May](/media/108023/conversions/Remmitances-1280x720.webp)
Islamabad: The remittances sent by overseas Pakistanis recorded an inflow of $3.2 billion in May 2024, showing a 54.2 per cent surge on a year-on-year (YoY) basis when compared to $2.103bn in the corresponding month last year, the State Bank of Pakistan on Friday said.
In terms of growth, the remittances increased by 15.3pc on a month-on-month basis and 54.2pc on a year-on-year basis.
Workers’ remittances inflow of $27.1bn has been recorded during the first 11 months of the fiscal year 2023-24, showing an increase of 7.7pc if compared with the corresponding period of last year.
Inflows during May were mainly sourced from Saudi Arabia ($819.3 million), the United Arab Emirates ($668.5m), the United Kingdom ($473.2m) and the United States ($359.5m).
-
Pakistan 2 days ago
PM reaffirms Pakistan’s commitment to SCO objectives, urges collective efforts for peace, development
-
Business 1 day ago
Gold price surges by Rs1,100 per tola in interbank
-
Pakistan 2 days ago
Apex court suspends LHC's verdict, ECP's notification in tribunals case
-
Business 1 day ago
Pak Rupee appreciates 12 paise against dollar in interbank
-
World 1 day ago
Vision 2023: Saudi Arabia approves granting citizenship to global experts
-
Pakistan 1 day ago
Ice melts as PTI founder announce to participate in APC
-
Pakistan 10 hours ago
PTI postpones public meeting in Islamabad after NOC controversy
-
Pakistan 2 days ago
PTI allowed to hold public meeting in Islamabad; Aamir Dogar arrested