Pakistan remittances rise 13% YoY to USD3.63bn in July

Islamabad: Overseas workers’ remittances to Pakistan increased 13% year-on-year (YoY) and 4.5% month-on-month (MoM) to USD 3.631 billion in July 2026, according to data released by the State Bank of Pakistan (SBP) on Monday.

Remittance inflows had reached USD 41.6 billion during FY26, covering July 2025 through June 2026, marking a 9% increase from USD 38.3 billion recorded in the previous fiscal year. Topline Securities expects remittances to reach USD 40.1 billion in FY27.

Remittances remain an important source of foreign exchange for Pakistan, supporting the country’s external account and supplementing household incomes. The government has continued to encourage overseas Pakistanis to use formal channels for sending money to the country.

Saudi Arabia accounted for the largest share of Pakistan’s remittance inflows in July, with overseas Pakistanis in the kingdom sending USD 914 million during the month. The amount was 11% higher than the USD 824 million received in July 2025 and 10% above the USD 830 million recorded in June 2026.

Remittances from the United Arab Emirates (UAE) rose 11% YoY to USD 737 million in July, compared with USD 665 million a year earlier. However, inflows from the UAE declined 7% MoM from USD 792 million in June.

Overseas Pakistanis in the United Kingdom sent USD 555 million in July, up 23% from USD 450 million in the same month last year. Remittances from the United States stood at USD 317 million, compared with USD296 million in June, representing a 7% increase on a monthly basis. Meanwhile, inflows from European Union countries amounted to USD 462 million in July, up 11% from USD 415 million in June.

Prime Minister Muhammad Shehbaz Sharif expressed satisfaction over the USD 3.6 billion in remittances received in July, praising overseas Pakistanis for their contribution to the country’s economy.