Overseas Pakistanis send $3.9bn in October as remittances rise 13.8pc
State Bank data show July-October inflows of $14.8 billion, 14 per cent up on last year, with Saudi Arabia and the UAE supplying more than 45 per cent.
Pakistan received $3.9 billion in remittances in October, 13.8 per cent more than in the same month last year and 8.5 per cent more than in September, according to State Bank of Pakistan figures released on Tuesday.
Inflows for July to October, the first four months of the 2026-27 financial year, reached $14.8 billion, against $13 billion in the same period a year earlier. That is a rise of 14 per cent, the central bank reported.
Saudi Arabia remained the largest single source. Pakistanis working there sent $981.6 million in October and $3.668 billion over the four months, up 16.5 per cent year on year.
The United Arab Emirates came second, with $815.9 million in October and $3.051 billion in four months, up 13.5 per cent. Gulf News reported that the UAE growth rate was slower than the 15.2 per cent recorded in the same period last year.
The two countries together accounted for about $6.72 billion, more than 45 per cent of the four-month total.
Britain recorded the fastest growth among the major sources, with inflows up 19.2 per cent to $2.226 billion over the four months, against 5.4 per cent in the same period last year. Remittances from Britain in October were $592.2 million.
The European Union sent $1.866 billion in the four months, including $461 million in October. Other Gulf Cooperation Council countries sent $1.374 billion and the United States $1.259 billion, of which $328.9 million arrived in October.
State Bank Governor Jameel Ahmad has set a target of $45 billion in remittances for the financial year ending June 2027, after record inflows of more than $41 billion last year. Hitting it would require another $30.2 billion in the remaining eight months.
Gulf News reported that the flows have held up despite conflict and tension in the Gulf region, where a large share of Pakistani workers are employed. Remittances are among Pakistan's largest sources of foreign exchange, supporting household incomes, paying for imports and easing pressure on the external accounts.
Remittances of $14.77b near four-month trade deficit
State Bank data show October inflows at a four-month high of $3.9 billion, with Saudi Arabia and the UAE supplying about 45.5% of the four-month total.
Remittances hit $3.89bn in October as SBP lifts forecast
Central bank data show a 13.8 per cent rise on October 2025 and $14.8 billion for July to October, with Governor Jameel Ahmed projecting $45 billion this fiscal year.
Aurangzeb confirms Saudi rollover of $3 billion loan
Finance minister says reserves cover three months of imports and the IMF executive board could meet in December, with no date fixed yet.
PVARA chief says Pakistan must help write digital finance rules
Bilal bin Saqib told a LUMS dialogue that shaving 2-3pc off remittance costs could leave about $1bn a year in household hands.
Transsion plans phone component manufacturing in Pakistan
Finance Minister Muhammad Aurangzeb met Transsion founder George Zhu as the Tecno and Infinix parent set out plans to move beyond assembly into parts.
Dar chairs austerity committee, calls for sustained follow-up on spending cuts
The Foreign Office says the committee reviewed progress on earlier decisions, and Dar separately ordered a restructuring roadmap for the national shipping corporation.
Army chief says Pakistan seeks long-term mineral investment
The prime minister told the same Islamabad forum that Pakistan would be among the world's major economies before 2050 and that Reko Diq is nearing its operational phase.
Aurangzeb seeks foreign buyers as sovereign Sukuk passes Rs10tr
Finance minister says issuance rose 113 percent to Rs4.4 trillion in 2026, with foreign investment in the Shariah-compliant paper still lagging T-bill and PIB inflows.