The State Bank of Pakistan has released monthly and semi-annual data on workers’ remittances, showing that overseas Pakistanis sent $17.84 billion from July to December 2024, setting a new record. In December 2024 alone, remittances amounted to $3.1 billion, marking a 5.6% month-on-month and a 29.3% year-on-year increase.
During the first half of fiscal year 2025, remittances saw a 32.8% growth compared to the same period last year, reflecting economic stability. Saudi Arabia topped the list with $770 million in remittances, while the UK contributed $456.9 million in December, an 11% increase from November’s $409.9 million. Similarly, remittances from the EU grew by 11%, reaching $360.3 million in December 2024.
Remittances from the UAE rose by 2% month-on-month, reaching $631.5 million in December, and showed a 51% annual increase. However, remittances from the US slightly declined by 1% month-on-month, amounting to $284.3 million in December.
