Remittances rise 13.8% to $3.89 billion in October

KARACHI (News Desk): Pakistan received workers’ remittances worth $3.89 billion in October 2026, registering an increase of 8.5% month-on-month and 13.8% year-on-year, according to data released by the State Bank of Pakistan (SBP).

Remittance inflows stood at $3.59 billion in September 2026 and $3.42 billion in October last year, reflecting a strong improvement in overseas transfers.

On a cumulative basis, Pakistan received $14.76 billion in workers’ remittances during the first four months of FY27, from July to October.

Saudi Arabia remained the largest source of remittances, contributing $981.6 million in October, up 9.2% from $899.1 million in September and 17.2% from $837.7 million in the corresponding month last year.

The United Arab Emirates (UAE) ranked second, with inflows of $815.9 million, showing a 9% monthly increase and 16% annual growth. Dubai accounted for the largest share of UAE-based transfers at $677.8 million, followed by Abu Dhabi with $112.2 million.

The United Kingdom retained third position, contributing $592.2 million, up 15% month-on-month and 18.7% year-on-year.

Remittances from the United States increased to $328.9 million, registering growth of 7.6% over the previous month and 9.1% compared with October 2025.

Meanwhile, inflows from European Union countries reached $460.9 million, up 2.9% month-on-month and 9.1% year-on-year.