In 2024, money sent back to Pakistan by Pakistanis living outside of Pakistan rose by 31%, with a total of $21 billion sent from January to November. This increase shows that the Pakistani community is still sending money back to the country, which is very important for the economy.
Pakistanis sent $7.29 billion, which is 38.7% more than the same time last year and still the most from Saudi Arabia. With $6.15 billion in transfers, the United Arab Emirates comes in second, a 55% increase from 2023.
Some other important donations are the $4.71 billion from the UK, the $3.61 billion from the EU, and the $3.44 billion from the US. A sum of $3.1 billion was sent to Pakistan by Pakistanis living in other Gulf countries.
Remittances are also coming in large amounts from Australia and Malaysia. Australia gave $660 million in the first eleven months of 2024, and Malaysia sent $168.2 million, which is a huge rise of 97%.
However, money sent back from places like Sharjah, Denmark, and Japan has gone down and is still in the negative zone.
The rising financial support for Pakistan’s economy from its citizens living outside the country is shown by this rise in earnings.
