Remittances Progress continues in eighth Consecutive month

“Remittances from abroad Pakistanis had been $2.27 bn in January, up 19% over Jan 2020 — eighth consecutive month of remittances above $2b,” mentioned PM Khan minutes after the State Financial institution of Pakistan shared the information.

Excellent news from industrial sector additionally, displaying sustained progress. Giant scale manufacturing noticed one other double digit progress month in December 2020 – 11.4% progress vs Dec 2019. Cumulative July to Dec progress above 8% now.

— Imran Khan (@ImranKhanPTI) February 15, 2021

Remittances from abroad Pakistanis had been $2.27 bn in Jan, up 19% over Jan 2020 – eighth consecutive month of remittances above $2b. Thus far on this fiscal 12 months they’re up 24% in comparison with final yr. It is a document for our nation and I thank our abroad Pakistanis.

— Imran Khan (@ImranKhanPTI) February 15, 2021

PM Khan mentioned to date the remittances of the nation within the ongoing fiscal are up 24% in comparison with final 12 months.

“It is a document for our nation and I thank our abroad Pakistanis,” he mentioned.

In the identical thread, the PM shared the “excellent news” relating to the “sustained progress” proven within the industrial sector.

“Giant scale manufacturing noticed one other double digit progress month in December 2020 — 11.4% progress vs Dec 2019. Cumulative July to Dec progress above 8% now,” he wrote.

Earlier than his tweets, the SBP had launched the information for the remittances Pakistan had obtained in January.

“In January 2021, remittances remained above $2bn for eighth straight month,” mentioned the central financial institution.

In Jan21, remittances remained above $2bn for eighth straight month. At $2.3bn, they’re 19% larger than in Jan20 and marginally decrease than in Dec20. Throughout FY21, remittances at an unprecedented $16.5bn are 24% larger than similar interval in FY20. For particulars: https://t.co/7XBd4uw3tu pic.twitter.com/ureqbpRwDa

— SBP (@StateBank_Pak) February 15, 2021

The SBP mentioned that remittances had elevated by 19% in comparison with the identical month of final fiscal 12 months. However it additionally added that the remittances had been additionally “marginally decrease” than what the nation had reported in December 2020.

“Throughout FY21, remittances at an unprecedented $16.5bn are 24% larger than similar interval in FY20,” mentioned the SBP.

The best quantity of remittances got here from the abroad Pakistanis in Saudi Arabia, with knowledge displaying that the nation had obtained $553.6 million from there.