Pakistani expatriates working in Spain have contributed significantly to the country’s economy, with a 21% increase in remittances during the first 8 months of the fiscal year. According to data released by the State Bank, Pakistani expatriates working in Spain sent a total of $384.8 million in remittances from July 2023 to January 2024, marking a 21% increase compared to the same period last fiscal year. During the corresponding period of the previous fiscal year, Pakistani expatriates working in Spain had sent $318 million in remittances. In February 2024, Pakistani expatriates working in Spain sent $42.9 million in remittances, slightly lower than the $47.3 million sent in January but higher than the $37.5 million sent in February last year. It is noteworthy that during the first 8 months of the current fiscal year, the overall remittances from overseas Pakistanis amounted to $18.08 billion, slightly lower than the $18.30 billion recorded during the same period last fiscal year.

Credit: Independent News Pakistan