Saudi Arabia and the United Arab Emirates (UAE) have emerged as key drivers of Pakistan’s remittance surge, contributing 44% of total inflows in December, up from 41% a year earlier.
Workers’ remittances reached $3.1 billion in December, a 29.3% increase compared to the same month last year and a 5.6% rise from November, according to the State Bank of Pakistan.
During the first half of fiscal year 2024-25, remittances totaled $17.8 billion, reflecting a 32.8% growth compared to $13.4 billion in same duration last year.
Saudi Arabia led the inflows with $770.6 million, followed by the UAE at $631.5 million. Other significant contributions came from the United Kingdom with $456.9 million and the United States at $284.3 million.
Experts attribute the growth to a rise in overseas employment and enhanced remittance mechanisms. The increasing share from Saudi Arabia and the UAE highlights the critical role these Gulf nations play in sustaining Pakistan’s economic stability.
