Remittances sent by Pakistanis living in Germany showed a remarkable growth of 25.1% year-on-year during the first five months of the current fiscal year.
Data released by the State Bank of Pakistan highlights that Pakistanis working in Germany sent $285 million in foreign exchange between July and November 2024. This figure marks a significant rise compared to $227.8 million during the same period last year.
The month of November 2024 saw remittances from Germany reach $44.4 million. However, this was lower than the $58.3 million recorded in October 2024 and $52.5 million in November 2023.
On a broader scale, the total remittance volume from all overseas Pakistanis amounted to $14.76 billion during the first five months of this fiscal year. This total reflects an impressive growth of 33.6% compared to the same period of the previous fiscal year. During that time, total remittances stood at $11.053 billion.
The rise in foreign exchange from Germany and other countries underscores the critical role of overseas Pakistanis in supporting the national economy. The data showcases a steady and promising trend in remittance inflows during the current fiscal year.
