Remittances to Pakistan Surpass $24 Billion in First Eight Months of FY25
During the first eight months of FY25, remittances to Pakistan reached $24 billion, up 32.5% from the previous year, with monthly inflows rising to $3.12 billion in February 2025.
During the first eight months of the fiscal year 2024-25, remittances sent to Pakistan from overseas workers reached $24 billion, reflecting a significant increase. The State Bank of Pakistan reported that monthly inflows rose to $3.12 billion in February 2025, representing a remarkable growth of 32.5 percent compared to $18.1 billion during the same period in the previous fiscal year.
In February alone, remittances amounted to $3.119 billion, which signifies a 38.6% increase from February 2024 and a 3.8% increase from January 2025. The inflow recorded in February 2024 stood at $2.25 billion, while the remittances for January 2025 totaled $3.003 billion, as per the data provided by the State Bank of Pakistan.
The February remittances were predominantly sourced from several countries, including Saudi Arabia ($744.4 million), the United Arab Emirates ($652.2 million), the United Kingdom ($501.8 million), and the United States ($309.4 million). Notably, the inflow from other Gulf Cooperation Council (GCC) nations was recorded at $306.6 million.
The remittance inflows to Pakistan have exhibited an impressive growth trajectory, marked by a total of $24 billion during the first eight months of FY25. The increase is driven by contributions primarily from major oil-producing nations and significant expatriate communities, demonstrating the crucial role of overseas workers in supporting the national economy.
Original Source: english.aaj.tv
