Press Release on Workers’ Remittances

• Workers’ remittances remained above $ 2.0 billion for the fifth consecutive month in October 2020.
• Workers’ remittances amounted to $ 2.3 billion during October 2020, increasing by 14.1 percent compared to October 2019.
• During Jul-Oct FY21, workers’ remittances increased to $9.4 billion, recording a growth of 26.5 percent over the same period last year.
• A large part of y/y increase in October 2020 was sourced from Saudi Arabia (30 percent), United States (16 percent) and United Kingdom (14.6 percent).
• Improvements in Pakistan’s FX market structure and its dynamics, efforts under the Pakistan Remittances Initiative (PRI) to formalize the flows contributed to the growth in remittances and limited cross-border travelling.

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