Overseas Pakistanis sent a record $3.2 billion in remittances during September, according to fresh data released by the State Bank of Pakistan (SBP).
The surge in remittance inflows has provided a major boost to Pakistan’s struggling economy, helping to strengthen foreign exchange reserves amid rising fiscal challenges.
Strong Start to the Fiscal Year
In the first quarter of the current fiscal year (July–September), the total remittances reached $9.5 billion, marking an 8.5% increase compared to the same period last year. This growth reflects the continued dedication of Overseas Pakistanis who send money home to support their families.
The SBP data shows that remittances in September alone rose by 11% year-on-year, underscoring the resilience and financial commitment of Pakistanis working abroad.
Major Contributors: Saudi Arabia and UAE Lead
Saudi Arabia remains the largest source of remittances, with $750 million sent to Pakistan in September. The United Arab Emirates (UAE) followed closely with $680 million, showing a steady contribution from the Gulf region.
From the United Kingdom, Pakistan received $450 million, while $270 million came from the United States during the same month. These four countries — Saudi Arabia, UAE, the UK, and the US — continue to dominate remittance inflows, accounting for a major share of Pakistan’s foreign income.
Economic Impact and Outlook
Experts believe the consistent rise in remittances from Overseas Pakistanis is a key factor in maintaining external account stability. The 11% year-on-year increase in September signals the strong connection Pakistanis abroad maintain with their homeland, despite global economic challenges.
Analysts expect these inflows to remain robust in the coming months, offering Pakistan much-needed economic support and helping to cushion the effects of trade deficits and inflationary pressures.
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