KARACHI: Workers’ remittances to Pakistan maintained strong momentum at the start of the new fiscal year, rising 13 percent year-on-year in July 2026, driven by robust inflows from major Middle Eastern countries and other key overseas corridors.
The State Bank of Pakistan (SBP) on Monday reported that Pakistan received home remittances amounted to USD 3.63 billion in the first month (July 2026) of FY27 compared to USD3.21 billion in July 2025, reflecting an increase of USD 420 million.
Month-on-Month basis, inflows of workers’ remittances recorded 5 percent growth in July 2026, over June 2026, in which the country fetched USD 3.474 billion inflows of home remittances.
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The detailed analysis showed that almost all major remittance corridors also recorded growth in July, indicating that the upward trend remained intact at the beginning of FY27.
The data also showed abroad-based growth across major remittance corridors, including United States (US), United Kingdom (UK), Saudi Arabia, the United Arab Emirates (UAE) and European Union (EU) countries, with significant increases recorded from key overseas destinations.
Remittances from the UK rose 23 percent year-on-year to USD 555 million in July, while inflows from the US increased 18 percent to USD 317 million.
In addition, home remittances from Saudi Arabia and the UAE grew 11 percent each, reaching USD 914 million and USD 737 million, respectively, during the first month of the current fiscal year. Meanwhile, remittances from EU countries increased 9 percent year-on-year to USD 462 million in July.
Khurram Schehzad Advisor to the Finance-Minister said that the strong July performance follows a record USD 41.6 billion in workers’ remittances during FY26, underscoring the growing contribution of overseas Pakistanis to the country’s external sector.
He said that SBP has set a target of USD 44 billion in remittances for FY27, reflecting expectations of continued robust inflows during the current fiscal year.
He believed that the sustained growth in remittances is expected to provide further support to Pakistan’s foreign exchange position, strengthen external buffers and contribute to macroeconomic stability. The broad-based rise across major corridors also reflects continued confidence and financial support from overseas Pakistanis, he added.
Copyright Business Recorder, 2026
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