Pakistan receives $3.9 billion in remittances in October

Pakistan receives $3.9 billion in remittances in October

Overseas Pakistanis sent home nearly $3.9 billion in remittances in October 2026, marking a significant increase compared to the same month last year, according to the State Bank of Pakistan (SBP).

The central bank reported that remittance inflows reached $3.89 billion during October, up 13.8% from $3.42 billion recorded in October 2025. On a monthly basis, inflows also grew by 8.5% compared to the $3.6 billion received in September 2026.

During the first four months of FY27, from July to October, overseas workers sent a cumulative $14.8 billion to Pakistan, representing a 14% increase from $13 billion received during the corresponding period of the previous fiscal year.

Remittances remain a vital source of foreign exchange for Pakistan, helping strengthen the country’s external account, support economic activity and improve household incomes, particularly among families that depend on money sent by relatives working abroad.

The SBP also raised its projections for remittances and foreign exchange reserves last month, citing stronger-than-expected inflows and an improved outlook for the external sector.

Speaking at a press conference following the monetary policy announcement, SBP Governor Jameel Ahmed said remittance inflows had remained resilient during the first quarter of FY27 and were likely to exceed previous estimates.

He said Pakistan could receive $45 billion in workers’ remittances during the current fiscal year, compared to the earlier projection of $44 billion.