Pakistan receives record $4.3 billion in remittances in May

Overseas Pakistanis sent a record $4. 3 billion in remittances during May 2026, setting a new monthly high and providing significant support to the country’s foreign exchange reserves and external sector, according to the State Bank of Pakistan (SBP). The central bank said remittance inflows increased by 20 percent on a monthly basis and 15 percent compared to the same month last year. The strong inflows helped strengthen Pakistan’s external accounts at a time when the country continues to rely on overseas workers’ earnings as a key source of foreign exchange. Commenting on the record performance, former Pakistan Overseas Employment Promoters Association vice chairman Adnan Paracha said remittances remained robust despite ongoing tensions in the Middle East, which hosts a large Pakistani expatriate workforce. He said remittances from both Saudi Arabia and the United Arab Emirates recorded exceptional growth during the month. “For the first time, remittances from the UAE crossed the $1 billion mark, while more than $1. 2 billion was sent from Saudi Arabia,” Paracha said. According to the latest figures, total remittances received during the first 11 months of the current fiscal year have reached $38. 1 billion. Economic observers believe that if the current pace continues during June, Pakistan’s annual remittance inflows could surpass $41 billion by the end of the fiscal year, setting a new record in the country’s history. Remittances remain one of the most important pillars of Pakistan’s economy, helping support foreign exchange reserves, stabilise the balance of payments and provide income to millions of households across the country. The latest figures underscore the continued contribution of overseas Pakistanis to the national economy despite economic uncertainty and geopolitical challenges in several key labour markets. Reporter: Ashraf Khan

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