Workers’ remittances rise 28.8% to $34.89 billion in the first 11 months of the fiscal year
(Web Desk): Workers' remittances in May were 16% higher compared to April, according to the State Bank of Pakistan.
The central bank reported that Pakistanis residing in Saudi Arabia sent a record $913.9 million in May, while $754.2 million came from the United Arab Emirates.
During the first 11 months of the current fiscal year, total workers’ remittances reached $34.89 billion, which is a 28.8% increase compared to the same period of the previous fiscal year.
From Saudi Arabia, remittances amounted to $8.52 billion over the 11-month period, while $7.11 billion was sent from the UAE during July to May.
Additionally, $5.36 billion was received from the United Kingdom, $3.43 billion from the United States, and $4.1 billion from the European Union during the same period.
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