Pakistan Receives Nearly $4 Billion in Remittances in October, Total Reaches $15 Billion in Four Months

ISLAMABAD:The State Bank of Pakistan (SBP) has released remittance figures for October and the first four months of the current fiscal year, showing a significant increase in funds sent home by overseas Pakistanis.

According to the central bank’s report, overseas Pakistanis remitted nearly $4 billion to the country in October, while total remittances during the first four months of the current fiscal year reached approximately $15 billion.

The SBP reported that remittances increased by 8.5 per cent month-on-month and 14 per cent year-on-year in October.

The figures further showed that remittances received between July and October recorded a 14 per cent increase compared with the corresponding period of the previous fiscal year.

Saudi Arabia remained the largest source of remittances in October, with overseas Pakistanis sending $980 million to the country.

The United Arab Emirates ranked second, contributing $815.9 million, followed by the United Kingdom with $600 million and the United States with $330 million.

According to the State Bank, the continued growth in workers’ remittances is important for strengthening Pakistan’s foreign exchange reserves and meeting external payment obligations.

The central bank has estimated that Pakistan could receive $45 billion in remittances by the end of the current fiscal year in June 2027.

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