Remittances from Pakistanis in UAE Surge by 55% in First Five Months

Islamabad: Pakistani workers in the United Arab Emirates (UAE) have sent a record 55% more remittances in the first five months of the current fiscal year, according to data released by the State Bank of Pakistan.
In the period from July to November of the ongoing fiscal year, Pakistanis in the UAE sent a total of $2.953 billion in remittances, compared to $1.909 billion in the same period last year. This represents a significant increase of 55% year-on-year.
In November alone, the volume of remittances from the UAE reached $619 million, marking a 50% rise compared to November of the previous year, when it stood at $412 million. However, when compared to October, the remittance volume saw a slight decrease, with November figures dropping by $2 million from the $621 million recorded in October.
Overall, during the first five months of the current fiscal year, the total remittances from overseas Pakistanis have increased by 34%, reflecting a positive trend in the country’s foreign exchange reserves.
This growth in remittances highlights the continued financial contributions of the Pakistani diaspora, especially in the UAE, which remains one of the largest sources of remittances for Pakistan.