Pak receives record USD 41.6 billion in remittances, surpassing total exports

Islamabad, Jul 9 (PTI) Pakistan received a record USD 41.6 billion in remittances from overseas workers in the last fiscal year (FY26), which ended June 30, higher than the total exports during the same period, according to the country’s central bank.

The State Bank of Pakistan (SBP), in a social media post, said workers’ remittances during FY26 amounted to USD 41.6 billion, up by 8.6 per cent from the USD 38.3 billion received during FY25.

The figure was Pakistan’s “highest-ever annual remittances in history”, adviser to the finance minister Khurram Schehzad said.

“This historic milestone reflects the unwavering confidence of overseas Pakistanis and reinforces Pakistan’s external sector resilience, stronger foreign exchange buffers, and improving

macroeconomic fundamentals,” he said on X.

The adviser termed the inflows a record achievement, and the growth over the last three years as “phenomenal, powered by millions of hardworking Pakistanis across the globe”.

Data showed that Saudi Arabia (USD 829.6 million) and the United Arab Emirates (USD 792.3 million) were the biggest sources of remittance inflows in June, followed by the United Kingdom (USD 514.9 million) and the United States (USD 296.8 million).

Other countries with over USD 100 million of inflows were Italy (USD 121.1 million) and Oman (USD 110.8 million).

Though the remittances rose by 8.6 per cent, the year-on-year rise was lower than the 26.6 per cent growth recorded for FY25, and 10.7 per cent increase in FY24.

The remittances were higher than the net export earnings, which were USD 30.1 billion. The country suffered a trade deficit of about USD 40 billion, which was offset by the workers’ remittances, which over the years have become the biggest source of foreign exchange earnings. PTI SH GSP GSP