Remittances hit $3.9bn in October, up 14% on year

Overseas Pakistanis sent home $3.89 billion in October 2026, up 13.8% from $3.42 billion a year earlier, the State Bank of Pakistan (SBP) said on Tuesday.

Remittances were also 8.5% higher than September’s $3.6 billion.

Cumulative inflows for July-October of FY27 rose 14% to $14.8 billion, from $13 billion in the same period last year.

“These sustained inflows are strengthening Pakistan’s foreign exchange position, supporting households and reinforcing external-account stability,” Khurram Schehzad, advisor to the finance minister, said on X.

Remittances support the external account and boost the incomes of households that depend on them.

Last month, the SBP raised its projections for remittances and foreign exchange reserves, citing stronger inflows and a better external-account outlook.

Speaking at a press conference on the monetary policy decision, SBP Governor Jameel Ahmed said remittances had remained resilient in the first quarter of FY27 and would come in higher than earlier estimates.

“Workers’ remittances are expected to increase further, with Pakistan’s inflows projected at $45 billion in the current fiscal year, up from the previous estimate of $44 billion,” he added.

Major corridors

Saudi Arabia was the largest source, with $982 million in October. That was up 17% from $838 million a year earlier and 9% from $899 million in September.

Inflows from the United Arab Emirates rose 16% year-on-year, from $703 million to $816 million. They were up 9% from $749 million in September.

Remittances from the UK totalled $592 million, up 19% from $499 million a year earlier.

The US sent $329 million, up 9% from $301 million a year earlier and 8% from $306 million in September.

Remittances from European Union countries reached $461 million, up 3% from $448 million in September.