Workers’ remittance up by 14.7% in two months of FY27

Islamabad: The inflow of overseas workers’ remittances increased by 14.7 percent during the first two months of the current fiscal year 2026-27, the State Bank of Pakistan (SBP) said on Wednesday.

The inflow stood at US$7.3 billion during July-August 2026-27, compared with US$6.4 billion during the corresponding period of fiscal year 2025-26.

Similarly, on a year-on-year basis, overseas workers’ remittances surged by 16.5 percent to US$3.7 billion in August 2026.

On a month-on-month basis, remittance inflows increased by 0.7 percent compared with US$3.6 billion in July 2026.

Overseas Pakistanis in Saudi Arabia remitted the largest amount in August 2026, sending $873.5 million. The amount was up 19 percent compared to the $737 million sent by the expatriates in the same month last year. However, the amount was down by  percent compared to $914 million in July 2026.

Inflows from the United Arab Emirates rose by 17% on a yearly basis, from $643 million in August 2025 to $749.8 million in August 2026. However, on a monthly basis, remittances increased by 2%, up from $737 million registered in July 2026.

Remittances from the UK amounted to $563.7 million in August 2026, up 22% from $463 million in the same month last year.

 “Sustained remittance flows remain an important pillar of Pakistan’s external account — supporting household incomes, FX liquidity, reserves and overall external-sector resilience,” Khurram Schehzad, Adviser to the Ministry of Finance, said in a post on a social media platform.

Overseas Pakistanis in the US sent $308.9 million in August, a 16% increase from $267 million in the same month last year. However, on a monthly basis, remittances decreased by 2%.

Meanwhile, remittances from European Union (EU) countries clocked in at $496 million in August, recording an increase of 7% on a monthly basis from $461 million in July.