KARACHI – Massive boost for Pakistan from overseas workforce remittances surged to all-time monthly high of $4.251 billion in May 2026, bringing the annual target within reach.
Fresh data shared by State Bank of Pakistan (SBP) shows that inflows from overseas Pakistanis jumped 20.2% compared to April and were 15.4% higher than the same month last year, underlining the growing role of expatriates in supporting the economy.
The strong performance pushed cumulative remittances for first 11 months of FY2025-26 to $38.1 billion, up 9.2% from $34.9 billion recorded during the corresponding period of the previous fiscal year. With just one month remaining, economists believe Pakistan is well positioned to surpass the SBP’s $41 billion remittance target.
The surge was fueled in part by higher seasonal transfers ahead of Eid, a period when overseas Pakistanis traditionally send additional funds to support families back home. However, analysts say the momentum reflects deeper structural improvements as well.
A growing number of Pakistanis securing jobs abroad, increased use of formal banking channels over informal hawala and hundi networks, and relative stability in the exchange rate market have all contributed to sustaining strong remittance growth. Experts also point to recent geopolitical developments in the region, which have encouraged greater use of official transfer channels.
Saudi Arabia remained largest contributor, with Pakistani expatriates sending $1.025 billion in May. The figure was 12% higher than a year ago and 22% above April’s level, highlighting the kingdom’s continued importance as Pakistan’s biggest remittance corridor.
UAE also delivered equally impressive performance, with inflows soaring to $1.007 billion. Remittances from UAE recorded 33% annual increase and a 37% monthly jump, making it one of the fastest-growing sources of foreign inflows.
Meanwhile, Pakistanis living in UK sent $645 million, up 15% from April, while remittances from the United States climbed to $350 million, registering a 10% monthly increase. Transfers from European Union countries also maintained an upward trajectory, reaching $466 million, an 8% increase over the previous month.
With average monthly remittances now standing at $3.5 billion, compared with $3.2 billion last year, overseas Pakistanis are emerging as one of the country’s most reliable economic pillars.
Pakistan’s workers remittances hit $16.1 billion in four months of FY2026
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