Remittances rise 13pc to $3.6bn in July
KARACHI: Remittances sent by overseas Pakistanis in the first month of the current fiscal year met the government’s expectations, with significant growth compared with the preceding month. The latest data issued by the State Bank of Pakistan (SBP) on Monday showed that inflows were 13 per cent higher in July than in the same month of the previous fiscal year. The country received a total of $3.6…
In July 2026, remittances sent by overseas Pakistanis reached a record $3.6 billion, marking a 13% increase compared to July 2025, according to the State Bank of Pakistan (SBP). This growth figure exceeded the government's expectations and demonstrated robust inflows from overseas workers. The month-on-month growth rate stood at 4.5%.
The remittance target set by the government for fiscal year 2027 (FY27) is $44 billion, up from $41.5 billion in FY26. Despite ongoing conflict in the Middle East, remittance trends remained positive, with inflows from the UAE maintaining their strength. Currency experts attribute this to a steady influx of Pakistani migrants to the region, primarily Saudi Arabia, for employment opportunities.
The Central Bank of Pakistan (SBP) noted the significant impact of remittances on its foreign exchange reserves, which are largely composed of deposits from Saudi Arabia and China. Even with a current account deficit and a $3.5 billion trade gap, the government remains optimistic about meeting the FY27 remittance target. The major corridors of remittance flows in July were Saudi Arabia ($913.9 million), the UAE ($737.3 million), the United Kingdom ($555.5 million), the United States ($317.2 million), and EU countries ($452 million).
Written by urgent.news from Dawn Business's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
Also reported by 2 other outlets
- Remittances rise 13pc to $3.6bn in July dawn.com
- Pakistan registers $3.6 billion in remittances for July 2026 dailytimes.com.pk
