Pakistan’s growing reliance on remittances amid political instability

Article Date: 
18 Jan 2009

Remittances to Pakistan rose by 24.0% year-on-year in July-November 2007, demonstrating the importance of the emigrant community. Remittances in fiscal year 2006/07 reached 4.3% of GDP. This has helped Pakistan's economy to remain relatively resilient to political turbulence. Since a growing amount of remittances come from the Middle East rather than the USA, this should provide some insulation in the event of a slowdown in the US economy.

Article Author: 
Media Eghbal
Article Source: 
Euromonitor International