ISLAMABAD, Sept. 10 (Xinhua) -- Remittances sent by overseas Pakistani workers increased by 40.5 percent in August on a year-on-year basis, the State Bank of Pakistan said on Monday.
The workers' remittances recorded an inflow of 2.9 billion U.S. dollars in August 2024, the central bank said.
Cumulatively, with an inflow of 5.9 billion dollars, workers' remittances increased by 44 percent during the first two months of the ongoing fiscal year starting from July 2024 to June 2025 as compared to 4.1 billion dollars received during the first two months of the last financial year, the SBP added.
Last month, the remittances mainly came from Saudi Arabia with 713.1 million dollars, the United Arab Emirates with 538.4 million dollars, Britain with 474.8 million dollars, and the United States with 322.4 million dollars, according to the bank.
Workers' remittances play an important role in Pakistan's economy as they are one of the major sources of foreign exchange. ■