Karachi: The State Bank of Pakistan (SBP) has released the latest data on remittances sent by overseas Pakistanis, showing a significant inflow during March despite ongoing challenges in the Middle East.
According to the SBP, overseas Pakistanis remitted $3.83 billion in March. On a monthly basis, remittances increased by 17%, while on a yearly basis, a 5.5% decline was recorded.
Saudi Arabia remained the top source of remittances, with $920 million sent to Pakistan during the month.
The United Arab Emirates followed with $820 million, while the United Kingdom ranked third, contributing $590 million.
Meanwhile, Pakistanis residing in the United States sent $360 million in remittances during March.
The central bank further stated that during the first nine months of the current fiscal year, total remittances reached $30.3 billion, reflecting an 8% increase compared to the same period last year.
Economic experts consider remittances a vital support for Pakistan’s economy, helping stabilize foreign exchange reserves and reduce external financial pressures.
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