Overseas Pakistanis send record $3 billion in July 2024

In the initial month of the ongoing fiscal year, Pakistani expatriates remitted an outstanding $3 billion to their home country, said the State Bank of Pakistan.

This shows a substantial rise of 48% in remittances from July 2023. Nevertheless, there was a slight decrease of 5% in the amount of money sent home compared to June 2024.

Saudi Arabia was the leading contributor, with Pakistanis sending a historic $760 million in remittances from the Kingdom in July.

The United Arab Emirates came next with a contribution of $61 million, while the United Kingdom donated $44 million. This significant influx of remittances is crucial for strengthening Pakistan’s economy, especially in difficult times.

The data from the central bank shows that overseas Pakistanis are still contributing to the nation’s financial stability, even as the global economy experiences ups and downs. The continuous support proves the commitment of overseas Pakistanis to the betterment of their home country.