KARACHI: Pakistan’s remittances increased by 3.1 percent in August on a month-on-month basis, the central bank said on Monday, with Saudi Arabia remaining the largest contributor.
The South Asian country recorded $2.1 billion in remittances sent by Pakistanis working abroad in August this year, according to the State Bank of Pakistan (SBP).
“Remittances inflows during Aug 2023 were mainly sourced from Saudi Arabia ($490.1 million), United Kingdom ($331.3 million), United Arab Emirates ($308.0 million) and United States of America ($262.4 million),” the central bank said.
“Workers’ remittances inflow of $ 4.1 billion has been recorded during Jul-Aug FY24 on a cumulative basis.”
Pakistan and Saudi Arabia have deep cultural, defense and economic ties and the Kingdom is home to over two million Pakistanis and for years has remained the largest contributor to remittance inflows.
