Summary
- Islamabad: Overseas Pakistanis achieved a historic milestone by sending a record $4.2 billion in remittances to the country during May 2026, providing a significant boost to Pakistan’s foreign exchange reserves and strengthening the national economy.
- The data showed that Saudi Arabia remained the largest source of remittances, with Pakistanis residing in the Kingdom sending approximately $1.2 billion during the month.
- Economists view the surge in remittances as a positive development for Pakistan’s economy, as these inflows help support foreign exchange reserves, stabilize the exchange rate, improve the balance of payments position, and provide financial assistance to millions of households across the country.
Islamabad: Overseas Pakistanis achieved a historic milestone by sending a record $4.2 billion in remittances to the country during May 2026, providing a significant boost to Pakistan’s foreign exchange reserves and strengthening the national economy.
According to the latest figures released by the State Bank of Pakistan, remittance inflows reached an all-time monthly high, reflecting the continued confidence and commitment of overseas Pakistanis towards supporting their families and contributing to the country’s economic stability.
The data showed that Saudi Arabia remained the largest source of remittances, with Pakistanis residing in the Kingdom sending approximately $1.2 billion during the month. The United Arab Emirates followed closely, contributing nearly $1 billion in remittances.
Meanwhile, Pakistani expatriates living in the United Kingdom transferred around $650 million, while remittances from countries of the European Union totaled $460 million. Pakistanis working in other Gulf nations collectively sent about $400 million, while those residing in the United States remitted $350 million during May.
The central bank’s statistics revealed a remarkable 20 percent increase in remittance inflows compared to April 2026, while the year-on-year growth stood at 15 percent, highlighting the sustained upward trend in overseas transfers.
Economists view the surge in remittances as a positive development for Pakistan’s economy, as these inflows help support foreign exchange reserves, stabilize the exchange rate, improve the balance of payments position, and provide financial assistance to millions of households across the country.
The cumulative remittance figures for the current fiscal year have also shown impressive growth. During the first eleven months of FY2025-26, Pakistan received approximately $38 billion in workers’ remittances. This represents an increase of around $3 billion compared to the corresponding period of the previous fiscal year.
We welcome your contributions! Submit your blogs, opinion pieces, press releases, news story pitches, and news features to [email protected] and [email protected]
