ISLAMABAD: Overseas Pakistanis have sent a record amount of $2.8 billion in the month of March 2022 to their loved ones ahead of Eid-ul-Fitr to support their families.
Every year, expatriates send more foreign exchange a couple of weeks ahead of Eid festivities.
According to the State Bank of Pakistan, during March 2022 workers’ remittances continued their unprecedented run of remaining above $2 billion since June 2020. This is the highest ever monthly level for workers’ remittances in the month of March 2022.
- In terms of growth, during March 2022, remittances increased by 28.3 percent on m/m basis and 3.2 percent on y/y basis.
- Cumulatively at $ 23.0 billion, remittances grew by 7.1 percent during 9 months of FY22 compared with last year.
- Remittances inflows during March 2022 were mainly sourced from Saudi Arabia ($678 million), United Arab Emirates ($515 million), United Kingdom ($401 million) and United States of America ($300 million).
