Workers’ Remittances in February 2021

Karachi, March 11, 2021 (PPI-OT): For the 9th consecutive month, workers’ remittances remained above $2 billion in February 2021.

Workers’ remittances amounted to $2.266 billion in February 2021, around the same level as the previous month and 24.2 percent higher than in February 2020.

During Jul-Feb FY21, workers’ remittances reached $18.7 billion, 24.1 percent higher than the corresponding period last year.

A large part of workers ‘remittance inflow during Jul-Feb FY21 was sourced from Saudi Arabia ($5.0 billion), United Arab Emirates ($3.9 billion), United Kingdom ($2.5 billion) and United States ($1.6 billion).

Policy measures undertaken by the Government and SBP to encourage inflows through formal channels, limited cross border travel due to COVID-19, medical expenses and altruistic transfers to Pakistan amidst the pandemic, and orderly exchange market conditions contributed to this sustained rise in workers’ remittances.

For more information, contact:
Chief Spokesman,
State Bank of Pakistan (SBP)
Central Directorate
I.I. Chundrigar Road, Karachi, Pakistan
Tel: +92-21-111-727-111
Tel: +92-21-39212562
Fax: +92-21-39212433 – 39212436
Email: chief.spokesperson@sbp.org.pk
Website: www.sbp.org.pk

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