With $3.1 billion in inflows in April 2022, overseas Pakistani workers’ remittances maintained a good trend and for the first time ever surpassed the $3 billion barrier in a month.
In terms of growth, remittances climbed by 11.2 percent month over month and 11.9 percent year over year in April 2022.
Remittances climbed 7.6% in the first ten months of FY22, reaching $26.1 billion, compared to the same period last year. Saudi Arabia ($707 million), the United Arab Emirates ($614 million), the United Kingdom ($484 million), and the United States of America ($346 million) were the top sources of remittances inflows in April 2022, according to data provided by the State Bank of Pakistan (SBP) on Friday.
During the same month, overseas Pakistanis in Bahrain sent $51.5 million, Kuwait $89 million, Qatar $103.7 million, and Oman $114.6 million.
Inflows from Germany, France, the Netherlands, Spain, Italy, Greece, Sweden, Denmark, and Ireland totaled $46.2 million, $41.5 million, $6.1, $72.2 million, $33.5 million, $7.7 million, $7.2 million, and $14.6 million, respectively.
Workers sent $14.7 million, $22.9 million, $16 million, $4.1 million, $72.7 million, $81.1 million, and $7 million from Malaysia, Belgium, Norway, Switzerland, Australia, Canada, and Japan, respectively.