Pakistan received a record $3.24bn in remittances in May 2024, a 54.2% year-on-year increase.
Pakistan received a record $3.24bn in remittances in May 2024, an increase of 54.2% year-on-year and up 15.3% from April. The record inflow is attributed to the timing of Eidul Azha and a stable exchange rate. The top remittance sources were Saudi Arabia, the United Arab Emirates, the United Kingdom, and the United States. The inflows are expected to contribute to a robust fiscal year and may lead to the second-highest annual remittances in Pakistan's history.
June 07, 2024
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