Overseas Pakistanis send record $3.2bn in a month.
Overseas Pakistanis sent home a record $3.2 billion in remittances during the month of September, according to data released by the State Bank of Pakistan (SBP).
The inflows mark a significant boost for the country’s economy, providing much-needed support to Pakistan’s foreign exchange reserves amid ongoing economic challenges.
$9.5bn received in first quarter
The State Bank of Pakistan reported that in the first quarter of the current fiscal year, spanning July to September, remittances totalled $9.5 billion. This represents an 8.5% year-on-year increase, reflecting the continued commitment of overseas Pakistanis to support their families back home.
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According to the SBP, remittances in September alone grew 11% compared to the same month last year, highlighting strong performance across all major sending countries.
Remittances from different countries
Pakistanis living in Saudi Arabia contributed the largest share, sending home $750 million in September. The United Arab Emirates (UAE) ranked second, with $680 million in remittances.
From the United Kingdom, remittances reached $450 million, while Pakistanis in the United States sent $270 million during the same period.
These four countries — Saudi Arabia, the UAE, the UK, and the US — continue to be the primary sources of remittance inflows, together accounting for a major portion of Pakistan’s foreign income.
Year-on-year growth indicates economic resilience
Economists view the steady increase in remittance inflows as a positive sign for Pakistan’s external account stability.
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With a growth rate of 11% year-on-year in September and 8.5% in the quarter, the data signals consistent financial support from Pakistanis abroad, even amid global economic uncertainty.
