Karachi: The State Bank of Pakistan (SBP) has released its report on workers’ returns for December 2024. It shows that more money is being sent back to Pakistan by Pakistanis who work abroad.
The study says that transfers reached $3.07 billion in December 2024, which is 29% more than in December 2023. This rise shows that expats are becoming more sure that they can help their home country’s economy through tough times.
The data shows that the country sending the most money back was Saudi Arabia, with $770 million. The next most generous sender was the United Arab Emirates (UAE), with $630 million. The United States gave $280 million, Europe $360 million, and the United Kingdom $450 million.
Pakistanis living outside of Pakistan have sent 33% more money home in the first half of this fiscal year than they did in the same time last year. Sending money back to family and friends has hit a new high of $17.84 billion in the last six months.
This big jump in payments shows how important Pakistanis living abroad are to keeping the country’s foreign funds high and its economy going strong. Experts say that steady remittances will be very important for Pakistan’s economy to get back on track.
