| Karachi: Workers’ remittances in Pakistan recorded a strong growth of 32.5% in the first eight months of FY25, reaching USD 24 billion, according to data released by the State Bank of Pakistan (SBP) on Monday.
During July-February FY25, remittance inflows surged from USD 18.1 billion in the same period last year. In February 2025, inflows totaled USD 3.12 billion, reflecting a 38.6% year-on-year (YoY) increase and a 3.8% rise from January.
Read: Forex reserves rise to USD 15.94 bn: SBP
The top sources of remittances in February included Saudi Arabia (USD 744.4 million), the UAE (USD 652.2 million), the UK (USD 501.8 million), and the US (USD 309.4 million).
Analysts suggest that the steady rise in remittances is helping ease pressure on the external account and strengthen SBP’s forex reserves, offsetting the impact of rising imports driven by higher economic activity and global commodity prices. |
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