Pakistan’s Remittances Hit Record $41.6bn:SBP
KARACHI: Pakistan recorded its highest-ever annual workers’ remittances during the fiscal year 2025-26, marking a significant milestone for the country’s external sector.
According to the State Bank of Pakistan (SBP), remittances increased by 8.6 percent on a year-on-year basis to reach a record $41.6 billion, reflecting the continued confidence and financial support of overseas Pakistanis.
The latest figures of the State Bank show that remittances surpassed the previous record set in fiscal year 2024-25, when Pakistan received US$38.3 billion from Pakistanis living and working abroad.
The steady rise in inflows has provided much-needed support to the country’s foreign exchange reserves, helped narrow the current account deficit, and strengthened overall macroeconomic stability.
On a monthly basis, Pakistan received $3.5 billion in workers’ remittances during June 2026, representing a 2 percent increase compared with the same month last year. However, remittance inflows declined by 18.3 percent compared with May 2026, reflecting the seasonal slowdown that typically follows the higher inflows recorded ahead of Eid and other festive occasions.
Saudi Arabia remained the largest source of remittances during June, with overseas Pakistanis sending $829.6 million to the country. The United Arab Emirates ranked second, contributing $792.2 million, while Pakistanis residing in the United Kingdom remitted $514.9 million. The United States was another major contributor, with remittances totaling $296.8 million during the month.
Workers’ remittances continue to play a vital role in Pakistan’s economy by supporting household incomes, boosting domestic consumption, and easing pressure on the country’s external financing needs. The record inflows are also expected to strengthen Pakistan’s foreign exchange position and improve investor confidence at a time when the economy is gradually stabilizing.
Economists believe the sustained growth in remittances reflects stronger use of formal banking channels, improved digital payment systems, and government measures aimed at encouraging overseas Pakistanis to send money through official channels. The consistent inflows have become one of Pakistan’s most reliable sources of foreign exchange, helping offset pressures arising from imports and external debt obligations.
The record $41.6 billion received during fiscal year 2025-26 highlights the growing contribution of Pakistan’s overseas workforce to the national economy and underscores the importance of remittances as a key pillar of the country’s economic stability and external sector performance.
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