Remittances rise 14pc to $10.9bn in July-Sept
• UK records the highest growth among major sources, with inflows rising 19.4pc • Saudi Arabia remains the largest source, contributing $2.686 billion KARACHI: Workers’ remittances increased by 14 per cent in the first quarter of FY27 compared with the same period of the previous fiscal year, according to data released by the State Bank of Pakistan (SBP) on Friday. However, remittance inflows…
Remittance inflows to Pakistan rose by 14% in the first quarter of FY27, reaching a total of $10.9 billion, according to data released by the State Bank of Pakistan (SBP). This growth trend helped the government approach its annual remittance target of $44 billion for the fiscal year. The UK was the top source of remittances, with inflows increasing by 19.4% to $1.643 billion, while Saudi Arabia remained the largest contributor, with inflows growing by 16.2% to $2.686 billion.
Despite a slight decline of 1.9% in September compared to August, remittance growth remains an important source of support for Pakistan's economy, although it is constrained by the country's rising trade deficit.
Brief written by urgent.news from Dawn Business's own syndicated text. Machine-written — may contain errors; check the original before relying on it.
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