Workers’ remittances up 16.9% to $2.7bn in Sep

ISLAMABAD, Oct 8 (APP): The overseas Pakistani workers’ remittances continued strong trend and remained above $ 2 billion mark for 16th consecutive month as the remittances recorded $2.7 billion in September 2021.

In terms of growth, the remittances increased by 0.5% over previous month and soared by 16.9% over the same month last year, according to data released by State Bank of Pakistan (SBP) on Friday.

Cumulatively, remittances reached to $8.0 billion in first quarter of Fiscal Year 2021-22, a significant growth of 12.5% over the same period last year.

The historic increase in the inflows has helped improving the country’s external sector position despite the challenging global economic conditions in the past year.