Inflow of overseas workers’ remittances significantly increased to $3 billion in March 2024, 31.3% higher on a month-on-month (MoM) basis when compared to $2.25 billion in February 2024, showed data released by the State Bank of Pakistan (SBP) on Monday.

On a yearly basis, the monthly inflow of remittances registered an increase of 16.4% as it stood at $2.54 billion in the same month of the previous year, data showed.

Home remittances play a significant role in supporting the country’s external account, stimulating Pakistan’s economic activity as well as supplementing the disposable incomes of remittance-dependent households.

Pakistan’s remittances clock in at $2.25bn in February, up 13% YoY

During first nine months of FY24, workers’ remittances recorded an inflow of $21.0 billion, an increase of 0.9% as compared to $20.8 billion remittances recorded during 9MFY23.


Overseas Pakistanis in Saudi Arabia maintained their top spot, remitting the largest amount in March 2024 as they sent $703.1 million during the month. The amount increased by 30% on a monthly basis and 24% YoY.

Inflows from the United Arab Emirates (UAE) saw a jump of 43% on a monthly basis, from $385 million in February to $548 million in March. On a yearly basis, the remittances registered an increase of 34%, as compared to $410 million reported in the same month last year.

Pakistan’s remittances clock in at $2.4bn in January, up 26% YoY

Remittances from the United Kingdom amounted to $462 million during March, an increase of 33% as compared to $346 million in February 2024.

Remittances from the European Union surged 19% on a monthly basis and improved 6% year-on-year as they amounted to $315 million in March 2024.

Overseas Pakistanis in the US sent $373 million in March 2024, a year-on-year increase of 18% and 30% MoM.


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Mustafa Apr 08, 2024 07:32pm
and stability is coming at fast pace ...
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Az_Iz Apr 08, 2024 08:10pm
Eid gift, from hardworking overseas Pakistanis.
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Az_Iz Apr 08, 2024 08:17pm
When Dar was in charge, remittances kept going downhill. Since he was gone, they are steadily climbing.
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Az_Iz Apr 08, 2024 08:22pm
Remittances were good under IK. Once Dar stepped in, they started going downhill. After he left, they are steadily increasing again. Keep Dar as far away from Finance as possible.
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Syd Apr 08, 2024 11:02pm
This sudden jump is of $700 million I’m March is primarily due to yearly Ramadan Zakat payments to charitable institutions, and to meet families’ Ramadan and Eid expenses. Otherwise, in Feb 2024 the trend was down: from 2.5 billion in Jan to 2.3 billion in Feb 2024.
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safdar iqbal Apr 08, 2024 11:37pm
need loan
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Faisal Kandhro Apr 09, 2024 12:11am
@safdar iqbal, Feb is always low in remmitences and exports because of 3 less days. Pakistan receives 100m$ daily on remmitences, if you decrease 3 days it's 300m$ less
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Az_Iz Apr 09, 2024 02:11am
@KU, like India, the continent of Africa also has 1.4 billion people with $3 trillion economy and similar per capita of $2,400. This is not rich, but low middle income. Bangladesh also has similar per capita.
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