RECORDER REPORT

KARACHI: The inflows of workers’ remittances have increased by 27.9 percent on year-on-year basis to $2.8 billion during April 2024.

Cumulatively, with an inflow of $23.8 billion, workers’ remittances increased by 3.5 percent during first 10 months of FY24 compared to the same period last year, State Bank of Pakistan (SBP) said on Thursday.

The remittance inflows during April 2024 were mainly sourced from Saudi Arabia (net inflows $ 712.0 million), United Arab Emirates (net inflow $542.3 million), United Kingdom (net inflow $403.2 million) and United States of America (net inflow $329.2 million).