Worker’s remittances recorded at $2.71bn in July

ISLAMABAD: The remittances from overseas Pakistani workers’ showcased a strong upward trend as the remittances stood at $2.71bn in July 2021, remaining above the $2 billion mark for the 14th consecutive month.

According to a statement by the State Bank of Pakistan (SBP) on Tuesday, the recorded remittances are the second-highest ever recorded for July. 

The remittances showed an increase of 0.7 per cent from last month but highlighted a decrease of 2.1 per cent when compared to the same month last year. 

The countries contributing majorly to the remittances are Saudi Arabia, United Arab Emirates, United Kingdom and the United States with $641 million, $531 million, $393 million and $312 million respectively. 

Similarly, workers living abroad in Kuwait sent  $77.4 million, Bahrain sent $40.6 million, Oman sent $97.5 million and Qatar sent $78.4 million. 

In addition, remittances were also received from Australia, Canada, France, The Netherlands, Sweden, Malaysia, Japan, Denmark, Germany, Spain, Norway, Switzerland, Italy, Greece and Ireland. 

 

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