Karachi: Remittances during December 2024 reached $3.1 billion, a month-on-month increase of 5.6%.
Workers’ remittances totaled $17.8 billion during the first half of FY25, a 32.8% increase over the $13.4 billion received in the first half of FY24. In terms of growth, remittances in December 2024 increased by 29.3% year-on-year and 5.6% month-on-month.
Remittances during December 2024 were mostly from Saudi Arabia ($770.6 million), the United Arab Emirates ($631.5 million), the United Kingdom ($456.9 million) and the United States ($284.3 million).
Pakistanis living in Saudi Arabia sent the highest amount of $770.6 million in December 2024. This was 6% higher on a monthly basis but 33% higher than the $577.6 million sent by expatriates in the same month last year.
Remittances from the UAE increased by 2% on a monthly basis, reaching $631.5 million in December from $619.4 million in November. Remittances increased by almost 51% on an annual basis, as remittances in the same month last year were $419.2 million.
Remittances from the UK in December 2024 were $456.9 million, an 11% increase from $409.9 million in November 2024. The annual inflow from the UK has increased by 24%.
Overseas Pakistanis living in the US sent $284.3 million in December 2024, a one percent decrease on a monthly basis.
Remittances from the European Union increased by 11% to $360.3 million in December 2024, compared to $323.5 million in November.
