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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.

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Pakistan records 17% surge in workers’ remittances in September
GNN Media: Representational Photo

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.

 

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