Record Remittances Received by Pakistan in September 2023

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In a significant economic development, Pakistan received a record high of US$2.2 billion in workers’ remittances during September 2023. This marked a notable 5.3 percent increase in growth compared to the previous month.

During the first quarter of the fiscal year 2024 (Q1FY24), a substantial inflow of workers’ remittances totaling US$6.3 billion was recorded, reflecting a robust financial trend for the country.

The major sources of these remittances in September 2023 were identified as Saudi Arabia contributing $538.2 million, the United Arab Emirates with $400 million, the United Kingdom with $311.1 million, and the United States of America with $263.4 million.

This surge in remittances highlights the strong support from the Pakistani workforce abroad, indicating positive economic implications for the nation.

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