ISLAMABAD: Remittances sent home by overseas Pakistanis rose to $3.9 billion in October 2026, up 13.8 percent from the same month last year, according to figures shared by Khurram Schehzad, Adviser to the Finance Minister.
The October inflow was also 8.5 percent higher than in September, extending a steady run of strong monthly receipts that continues to support the country’s external accounts and foreign exchange reserves.
In the first four months of the current fiscal year, from July to October, workers’ remittances totalled $14.8 billion. That is 14 percent more than in the same period of the previous fiscal year, an increase of about $1.8 billion.
Saudi Arabia remains the largest source
Saudi Arabia was once again the largest source of remittances, with inflows of $982 million in October, an increase of 25 percent year-on-year. The United Arab Emirates followed with $816 million, up 16 percent.
Remittances from the United Kingdom rose 15 percent to $592 million, while inflows from European Union countries increased 12 percent to $461 million. Other Gulf Cooperation Council countries together sent $370 million, a rise of 13 percent.
The figures show double-digit growth from every major corridor, with the Gulf region accounting for the largest share of the money sent home by Pakistanis working abroad.
Why remittances matter
Workers’ remittances are one of Pakistan’s most important sources of foreign exchange, together with exports. They help finance the country’s import bill, ease pressure on the current account and support the stability of the rupee. Millions of households across the country depend on money sent by family members working in the Gulf, Europe, North America and elsewhere.
The government and the State Bank of Pakistan have encouraged overseas Pakistanis to use legal banking channels to send money home. The Finance Minister said on November 4 that the government is determined to expand digital payments across the economy.
The strong remittance performance comes alongside other positive signs on the external front. Pakistan’s exports grew 8.52 percent during the first four months of the current fiscal year, according to official figures, while the Asian Development Bank this week approved $500 million in disaster financing for the country.
The first third of the fiscal year has therefore closed with remittances well ahead of last year’s pace, giving the government added support on the external front as it pursues its economic stabilisation and growth agenda.
The State Bank of Pakistan publishes detailed monthly data on workers’ remittances by country on its website.
Featured image: Photo: MariyamAftab / Wikimedia Commons, CC BY-SA 4.0
