ISLAMABAD, Nov. 8 (Xinhua) -- Remittances sent by overseas Pakistani workers in the first four months of the current fiscal year starting from July 2024 to June 2025 witnessed an increase of 34.09 percent as compared to the corresponding period of last year, the State Bank of Pakistan (SBP) said on Friday.
The remittances reached 11.8 billion U.S. dollars from July to October as against 8.8 billion dollars of remittances received during the same period in the previous fiscal year, the central bank said.
In October, workers' remittances recorded an inflow of 3.1 billion dollars, showing a growth of 6.7 percent month on month and 23.9 percent year on year, the SBP said.
Last month, the remittances mainly came from Saudi Arabia with 766.7 million dollars, the United Arab Emirates with 620.9 million dollars, Britain with 429.5 million dollars, and the United States with 299.3 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. ■