In a major boost to Pakistan’s economy, overseas Pakistanis remitted a remarkable $2.94 billion in August 2024, representing a 41% increase compared to the same month last year, according to data released by the State Bank of Pakistan (SBP).
This surge in remittances highlights the vital role of Pakistani expatriates in supporting their home country’s economy.
The SBP’s report shows that during July and August 2024, Pakistani workers sent a total of $5.9 billion, underscoring their continued commitment to contributing to the nation’s financial stability.
Saudi Arabia emerged as the leading source of remittances, with Pakistanis in the kingdom sending $713 million in August alone.
The United Arab Emirates followed, contributing $540 million, while $475 million came from the United Kingdom.
Pakistanis residing in the United States also played a crucial role, remitting $320 million to their loved ones back home.
