Media365
Pakistan received a record USD 41.6 billion in workers’ remittances during the 2025-26 fiscal year, surpassing the country’s total export earnings and providing a major boost to its foreign exchange reserves, according to a PTI report, citing data released by the State Bank of Pakistan (SBP).
The remittance inflows for the fiscal year ending June 30 rose 8.6 per cent from USD 38.3 billion recorded in FY25, marking the highest annual remittance figure in the country’s history.
In a post on social media, the SBP said workers’ remittances reached USD 41.6 billion during FY26, underscoring the continued contribution of overseas Pakistanis to the country’s economy.
Khurram Schehzad, adviser to Pakistan’s finance minister, described the figure as a historic achievement.
“This historic milestone reflects the unwavering confidence of overseas Pakistanis and reinforces Pakistan’s external sector resilience, stronger foreign exchange buffers, and improving macroeconomic fundamentals,” he said on X.
Schehzad said the latest figures represented the highest annual remittance inflows ever recorded by Pakistan and highlighted the role of the Pakistani diaspora in supporting the economy.
The adviser termed the inflows a record achievement, and the growth over the last three years as “phenomenal, powered by millions of hardworking Pakistanis across the globe”.
According to central bank data, Saudi Arabia remained the largest source of remittances in June, with inflows of USD 829.6 million, followed closely by the United Arab Emirates at USD 792.3 million.
The United Kingdom contributed USD 514.9 million, while remittances from the United States stood at USD 296.8 million during the month.
Other major contributors included Italy, which accounted for USD 121.1 million in remittances, and Oman, which sent USD 110.8 million.
Despite reaching a record high, the growth rate in remittances slowed compared with previous years. Remittance inflows had increased by 26.6 per cent in FY25 and 10.7 per cent in FY24.
The remittance figure significantly exceeded Pakistan’s net export earnings of approximately USD 30.1 billion during the fiscal year. The inflows also helped offset a trade deficit estimated at around USD 40 billion, highlighting the growing importance of overseas workers’ earnings as a key source of foreign exchange for the country.
Over the years, remittances have emerged as Pakistan’s largest source of external financing, playing a critical role in supporting the balance of payments, stabilising foreign exchange reserves and cushioning the economy against external shocks.
With inputs from agencies
