Pakistan receives record remittances from European countries in 2022

Brussels: Pakistan has received all-time high remittances from overseas Pakistanis residing in European countries in the first 10 months of the fiscal year 2021-22. 

According to details, overseas Pakistanis residing in the EU countries sent over $2.8 billion in remittances in the first 10 months (July-April) of the fiscal year 2021-22. The amount received in these 10 months is 27.1% higher than the amount received at the same time last year. the remittances received by Paksitan at the same time last year were $2.20 billion.

The highest number of overseas Pakistanis in Europe are in Italy and that shows in the number of remittances as well. Overseas Pakistanis in Italy sent $701 million in remittances from July 2021 to April 2022. The amount is 47% higher than the amount sent by Italian Pakistanis last year which was $295.5 million.

According to details, the second-highest remittances, $300 million, were sent from Greece. There was a 41 per cent hike in the remittances sent from Greece in comparison to the last fiscal year. Remittances received from Greece last year amounted to $215 million.

Also Read:Monthly remittances cross US$3bn for first time: SBP

The third highest remittances among European countries were sent from Holland, with an amount of $50.2 million received from July 2021 to April 2022, which is 30% higher than the last year.

While the fourth-highest remittances among EU countries were sent from Spain, with an amount of $42 million which is 30.1% higher than last year.