{
  "id": 19442271,
  "title": "Remittances increase 14pc to $14.8bn in four months",
  "url": "https://urgent.news/2026/11/11/remittances-increase-14pc-to-14-8bn-in-four-months",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-11-11T03:59:42.000Z",
  "source": {
    "name": "Dawn Business",
    "slug": "dawn-business",
    "url": "https://www.dawn.com/news/2043625/remittances-increase-14pc-to-148bn-in-four-months"
  },
  "original_language": "en",
  "account": "Karachi witnessed an impressive surge in workers' remittances, with cumulative growth reaching 14 per cent in the first four months of the fiscal year 2027. According to State Bank of Pakistan (SBP) data, the country received $3.9 billion from overseas Pakistanis in October, marking a 13.8 per cent increase from the previous year and a 8.5 per cent rise from September. Cumulatively, inflows reached $14.8 billion between July and October, compared to $13 billion in the same period last year. SBP Governor Jameel Ahmad had set a remittance target of $45 billion for FY27, making foreign workers' earnings the primary source of foreign exchange. Despite concerns over the prolonged conflict in the Gulf region potentially disrupting employment and earnings, remittance inflows have remained strong. The increase in remittances also highlights the growing number of Pakistanis seeking employment abroad, with millions of highly skilled professionals having left the country over the past three years. Saudi Arabia remained the largest source of remittances during July-October FY27, with inflows reaching $3.668 billion, a 16.5 per cent increase compared to 7.7 per cent in the same period last year. The United Kingdom saw the highest growth among major remittance destinations, with inflows rising 19.2 per cent to $2.226 billion. Remittances from the UAE also increased by 13.5 per cent to $3.051 billion, although the growth rate was lower than the 15.2 per cent recorded in the previous year. Other significant sources included European Union countries, which contributed $1.866 billion, followed by the US with $1.259 billion, and other Gulf Cooperation Council countries at $1.374 billion during the July-October period of 2026-27. In October, Saudi Arabia was the largest contributor, sending $981.6 million, followed by the UAE with $815.9 million, the UK at $592.2 million, EU countries at $461 million, and the US at $328.9 million.",
  "summary": "KARACHI: Workers’ remittances increased by 13.8 per cent year-on-year in October, taking cumulative growth to 14pc in the first four months of FY27 and putting inflows on track to meet the State Bank’s annual target of $45 billion. According to the State Bank of Pakistan (SBP) data released on Tuesday, the country received $3.9 billion from overseas Pakistanis in October, up 13.8pc from a year…",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}