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Significant Growth in Workers’ Remittances Recorded in June 2024

Islamabad: The State Bank of Pakistan reported that workers’ remittances saw a substantial inflow of US$3.2 billion during June 2024, marking a significant increase of 44.4 percent year-over-year. This boost contributes to a strong fiscal year performance, with remittances reaching a total of US$30.3 billion, up 10.7 percent from the previous year’s US$27.3 billion.

According to State Bank of Pakistan, the major contributors to June’s remittance inflows were Saudi Arabia, sending US$808.6 million, followed by the United Arab Emirates with US$654.3 million, the United Kingdom at US$487.4 million, and the United States of America contributing US$322.1 million. This robust growth in remittances highlights the substantial economic contributions of the Pakistani diaspora worldwide.