Pakistan Remittances Hit Record USD41.6 Billion Despite Sharp June Retreat

Pakistan received a record USD41.6 billion in workers' remittances during fiscal year 2025-26, an increase of 8.6% from a year earlier, although monthly inflows dropped sharply by 18.3% to USD3.5 billion in June from the unusually strong level recorded in May, according to the State Bank of Pakistan. Overseas Pakistanis had sent USD38.3 billion home during FY2024-25. The latest figures therefore show an increase of USD3.3 billion in annual remittance receipts. June maintained the year-on-year improvement, albeit narrowly. The USD3.5 billion received during the month was 2% higher than in June 2025. The comparison with May was considerably less favourable. Pakistan had received USD4.3 billion in May, making it the strongest monthly figure reported in the data provided. The subsequent fall to USD3.5 billion in June represented an 18.3% month-on-month decline. Saudi Arabia remained the biggest source of workers' remittances in June, contributing USD829.6 million. The United Arab Emirates followed closely with USD792.2 million. Pakistanis in the United Kingdom sent USD514.9 million, while inflows from the United States amounted to USD296.8 million. These four markets consistently accounted for substantial remittance receipts throughout the period covered by the SBP figures. In May, when overall inflows reached USD4.3 billion, Saudi Arabia contributed USD1.025 billion and the UAE USD1.007 billion. Receipts from the UK amounted to USD645.5 million that month, while the United States provided USD349.8 million. April produced total inflows of USD3.5 billion. Saudi Arabia accounted for USD841.7 million, followed by the UAE at USD734.7 million, the UK at USD563.7 million and the United States at USD317.6 million. Remittances had been somewhat stronger in March, reaching USD3.8 billion. Saudi Arabia contributed USD918.4 million during that month, while the UAE accounted for USD823.7 million. Receipts from the UK and United States stood at USD587.3 million and USD359.3 million, respectively. February was unusual in that the UAE overtook Saudi Arabia as the largest source among the countries listed. Pakistan received USD3.3 billion in total during February, including USD696.2 million from the UAE and USD685.5 million from Saudi Arabia. The UK contributed USD532 million and the United States USD319.5 million. January brought USD3.5 billion in overseas transfers. Saudi Arabia provided USD739.6 million, ahead of the UAE's USD694.2 million, while the UK contributed USD572.1 million and the United States USD294.7 million. The final month of 2025 had been somewhat stronger. Remittance receipts reached USD3.6 billion in December, including USD813.1 million from Saudi Arabia. The UAE accounted for USD726.1 million, the UK USD559.7 million and the United States USD301.7 million. November recorded total transfers of USD3.2 billion. Of these, USD753 million came from Saudi Arabia, USD675 million from the UAE, USD481.1 million from the UK and USD277.1 million from the United States. In October, overall receipts stood at USD3.4 billion. Saudi Arabia again led with USD820.9 million, followed by the UAE with USD697.7 million, the UK with USD487.7 million and the United States with USD290 million. Pakistan had received USD3.2 billion in September. The principal sources included Saudi Arabia at USD750.9 million, the UAE at USD677.1 million, the UK at USD454.8 million and the United States at USD269 million. August produced USD3.1 billion in total inflows, the lowest monthly figure stated for FY26. Saudi Arabia contributed USD736.7 million, the UAE USD642.9 million, the UK USD463.4 million and the United States USD267.3 million. The fiscal year had begun with USD3.2 billion in remittances in July 2025. Saudi Arabia accounted for USD823.7 million that month, while transfers from the UAE reached USD665.2 million. The UK and United States contributed USD450.4 million and USD269.6 million, respectively. The monthly figures show that remittance receipts generally remained above USD3 billion throughout FY26, before surging to USD4.3 billion in May and retreating to USD3.5 billion in June. Saudi Arabia was the leading source in most of the months detailed, with the UAE, UK and United States consistently among the other principal contributors. The full-year result was consequently much stronger than the softer final month might suggest. Annual remittances climbed from USD38.3 billion to USD41.6 billion, setting a new record and increasing by 8.6%. June's 18.3% decline from May nevertheless illustrates the volatility within those annual numbers. Pakistan ended FY26 with record overseas transfers, but the final month showed that even a year of rising remittances can contain sizeable swings from one month to the next.