Pakistan remittances hit $4.3bn in May: SBP

Workers’ remittances to Pakistan reached $4.3 billion in May, showing a significant increase on both monthly and yearly bases, according to data released

Workers’ remittances to Pakistan reached $4.3 billion in May, showing a significant increase on both monthly and yearly bases, according to data released by the State Bank of Pakistan (SBP).

The central bank said inflows rose by 20.2 percent compared to April. They were also 15.4 percent higher than in May last year, reflecting continued strength in overseas worker transfers.

According to the SBP, total remittances during the first eleven months of the current fiscal year (July–May FY26) stood at $38.1 billion. This marks a 9.2 percent rise compared to $34.9 billion recorded in the same period last year.

Officials said Saudi Arabia remained the largest source of remittances in May, sending $1.025 billion. The United Arab Emirates followed closely with $1.006 billion.

Remittances from the United Kingdom stood at $645.5 million, while inflows from the United States were recorded at $349.8 million, the SBP added.

Adviser to the Finance Minister Khurram Schehzad termed the latest figure the highest monthly remittance inflow in Pakistan’s history. He said the country is on track to exceed $41 billion in total remittances by the end of FY26.

However, currency experts noted that while inflows have increased, the pace of growth is lower compared to the previous fiscal year. They also pointed to concerns over exchange rate management, suggesting that some funds may be routed through informal channels.