Remittances from Pakistani workers employed abroad increased 11.9% to $10.6 billion in the first four months of the current fiscal year, according to the data released by the State Bank of Pakistan (SBP).
The country received $2.5 billion in remittances in October, a 10.2% rise year-on-year, but down 5.7% as compared with the previous month.
The July-October remittances’ data shows these flows remain buoyant since last year, providing much-needed support to the country, which has struggled with a higher current account deficit and a depreciating currency.
The SBP said that the workers’ remittances continued their strong streak. “In addition to remaining above $2 billion since June 2020, this is the eighth consecutive month when remittances have been close to or above $2.5 billion.
