RIZWAN BHATTI
KARACHI: Inflows of workers’ remittances continued their upward trajectory, registering a 14 percent growth during the first four months of the current fiscal year (FY27), the State Bank of Pakistan (SBP) reported on Tuesday.
According to the SBP, workers’ remittances rose to USD 14.8 billion during July-October FY27, compared to USD 13 billion received in the corresponding period of the previous fiscal year, depicting an increase of USD 1.8 billion.
Analysts said the growth was in line with the SBP’s projections and the positive momentum was likely to continue during the remaining months of the current fiscal year. In view of the sustained growth in inflows, the SBP recently revised its projections for workers’ remittances and foreign exchange reserves upward, reflecting improved inflows and a stronger outlook for the country’s external account.
According to SBP Governor Jameel Ahmed Pakistan’s external account position had improved significantly and the country was now out of the danger zone. Workers’ remittances have remained resilient in the first quarter of this fiscal year (FY27) and are projected to turn out higher than the earlier assessment, he announced in the recent monetary policy briefing and added “Workers’ remittances are expected to increase further, with Pakistan’s inflows projected at USD 45 billion in the current fiscal year, up from the previous estimate of USD 44 billion.”
Year on Year basis, home remittances also surged by 13.8 percent to USD 3.9 billion in October 2026 compared to USD 3.419 billion in October 2025. Month on Month basis, remittances posted 8.5 percent growth to reach USD 3.9 billion in October 2026 up from USD 3.6 billion in September 2026.
Saudi Arabia remained the largest source of remittances, contributing USD 981.6 million during October 2026, followed by the United Arab Emirates (UAE) with USD 815.9 million. The United Kingdom (UK) and the United States (US) were the other major sources, contributing USD 592.2 million and USD 328.9 million, respectively.
Analysts said the sustained growth reflects the continued contribution of overseas Pakistanis to the country’s external sector through robust remittance inflows. They said that with current momentum, monthly inflows of remittances are expected to cross USD 4 billion mark.
