Islamabad: Pakistan received USD 3.2 billion in overseas workers’ remittances in November 2025, according to data released by the State Bank of Pakistan (SBP) on Tuesday. The inflows rose 9.4% year-on-year, compared to the USD 2.9 billion recorded in the same month last year. However, on a month-to-month basis, remittances declined 7% from USD 3.4 billion in October.
During the first five months of FY26 (5MFY26), total remittances reached USD 16.1 billion, up 9.3% from the USD 14.8 billion received in 5MFY25.
Analysts attributed the continued improvement to factors such as better manpower exports in recent years, a narrower gap between formal and informal exchange markets, and government-led incentives to encourage the use of official transfer channels.
Topline Securities noted that the growth momentum remains intact, reiterating its full-year forecast of USD 41 billion in remittance inflows for FY26 — a 7.5% increase from FY25 levels.
Waqas Ghani of JS Global highlighted that UAE remittances have regained strength, with their share climbing to 21% in November 2025, up from 18% in FY24. He said the uptick reflects improved inflows from Dubai, partly due to relaxed emigration policies for Pakistani expatriates.
According to SBP data, Saudi Arabia and the UAE continued to dominate, jointly accounting for 45% of total inflows. Analysts expect this share to rise further, supported by strong emigration trends to the Gulf region.
A country-wise breakdown shows:
Saudi Arabia: USD 753 million in November 2025 — up 3% year-on-year but down 10% from October
UAE: USD 675 million — a 9% annual increase
United Kingdom: USD 481 million — 17% higher year-on-year
United States: USD 277 million — down 4% on a yearly basis
European Union: USD 417 million — up a significant 29% year-on-year
Remittances remain crucial for Pakistan’s external account and household incomes, supporting consumption and providing a steady source of foreign exchange. The government continues to encourage inflows through formal channels under initiatives such as the Pakistan Remittance Initiative (PRI), which has expanded its network of financial institutions and international partners over the years.
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