Pakistan receives record $38.3bn in remittances in FY25

Remittance inflow since Jan 2024

The inflow of overseas workers’ remittances into Pakistan stood at $38.3 billion in fiscal year 2024-25, the highest-ever in the country’s history, the State Bank of Pakistan (SBP) data showed on Wednesday.

Remittances increased by 27% year over year, compared to $30.25 billion recorded in the previous fiscal.

“This is the highest-ever remittances received during a fiscal year,” Samiullah Tariq, Head of Research at Pak Kuwait Investment Company, told Business Recorder.

The analyst attributed the achievement to strict regulatory enforcement, a crackdown on money laundering, and continued migration of Pakistanis abroad.

Brain drain: Pakistan lost 727,381 workers to overseas employment in 2024

Home remittances play a significant role in supporting the country’s external account, stimulating Pakistan’s economic activity as well as supplementing the disposable incomes of remittance-dependent households.

Mohammed Sohail, CEO of Topline Securities, also hailed the development. “In a year marked by economic challenges, overseas workers stepped up,” he wrote in a post on social media platform X, while sharing Bangladesh remittance inflows.

“Pakistan received a record $38.3 billion in remittances in FY25 — up 27%. Bangladesh also saw record inflows of $30 billion, up 26%.

“A big source of support for both economies, helping bridge external gaps and boosting household incomes,” he said.

The FY25 remittance figures also beat the government’s expectations.

Back in April, SBP Governor Jameel Ahmad said the central bank revised its projection for the cumulative receipt of remittances to $38 billion for the full year of FY25 from the previous estimate of $36 billion.

Meanwhile, during June 2025, the inflow of overseas workers’ remittances clocked in at $3.4 billion.

Remittances increased by 7.9% year over year, compared to $3.16 billion recorded in the same month last year. Whereas, on a monthly basis, remittances were down 8%, compared to $3.69 billion in May.

Breakdown of remittances

Overseas Pakistanis in Saudi Arabia remitted the largest amount in June 2025 as they sent $823 million during the month. The amount was down 10% on a monthly basis, and 2% higher than the $809 million sent by the expatriates in the same month of the previous year.

Inflows from the United Arab Emirates (UAE) rose by 10% on a yearly basis, from $654 million to $717 million in June 2025.

Remittances from the United Kingdom amounted to $538 million during the month, down by 9% compared to $588 million in May 2025. YoY inflows from the UK improved by 10%.

Overseas Pakistanis in the US sent $281 million in June 2025, a MoM decrease of 11%.