Remittances reach $23.2bn during first seven months of ongoing fiscal year, reflecting 11.3% rise
\nIslamabad
\nPakistani workers\u2019 remittances climbed sharply to $3.5 billion in January 2026, marking a 15.4% year-on-year increase, according to figures released by the State Bank of Pakistan (SBP).
\nOn a cumulative basis, remittances reached $23.2 billion during the first seven months of the ongoing fiscal year (July-January FY26), reflecting an 11.3% rise compared with $20.9 billion received in the corresponding period of last year.
\nThe central bank, in the press release, said inflows in January were primarily sourced from the Kingdom of Saudi Arabia, which contributed $739.6 million, followed by the United Arab Emirates with $694.2 million, the United Kingdom with $572.1 million and the United States with $294.7 million.
\nSana Tawfik, Head of Research at Arif Habib Limited, said remittances had never reached this level in any previous January.
\nShe attributed the sustained strength in inflows mainly to a larger number of Pakistanis working overseas, improved stability of the rupee and a narrowing gap between formal and informal exchange markets, which has encouraged senders to route funds through banking channels.
\nShe added that periods of geopolitical uncertainty can also trigger higher remittance flows, though this factor was currently less pronounced than the structural drivers supporting inflows.
\nReferring to guidance shared by the SBP governor in the most recent monetary policy briefing, Tawfik said remittances were expected to exceed $41 billion and could approach $42 billion in FY26 if the present trend continues.
\n\u201cAchieving this level would be the highest on record for any fiscal year and would play a key role in supporting Pakistan\u2019s external account, while also helping keep the current account deficit within the central bank\u2019s projected range of 0% to -1% of GDP,\u201d she added.
\nSeparately, Topline Securities, in its Economy Alert dated February 10, 2026, said Pakistan\u2019s remittances stood at $3.5 billion in January, rising 15% on a year-on-year basis but declining 4% compared to December.
\nThe brokerage noted that total remittances for the first seven months of FY26 amounted to $23.2 billion, up 11% from the same period last year.
\nTopline said the ongoing growth momentum was being driven by stronger manpower exports in previous years, a reduced differential between formal and informal exchange markets and the continuation of the government\u2019s remittance incentive package.
\nIt maintained its full-year remittance projection for FY26 at $41 billion, representing a 7.5% increase over FY25 inflows of $38 billion.
\nTopline Securities\u2019 Maaz Mulla told Geo.tv that remittances posted a healthy 15% increase, led by strong growth from the UK and EU. \u201cOverall, cumulative inflows for 7MFY26 remain robust, up 11% YoY, indicating sustained support from overseas Pakistanis.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"
Remittances reach $23.2bn during first seven months of ongoing fiscal year, reflecting 11.3% rise Islamabad Pakistani workers\u2019 remittances climbed sharply to $3.5 billion in January 2026, marking a 15.4% year-on-year increase, according to figures released by the State Bank of Pakistan (SBP). On a cumulative basis, remittances reached $23.2 billion during the first seven months […]<\/p>\n","protected":false},"author":2,"featured_media":377848,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[],"class_list":{"0":"post-530680","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-business"},"yoast_head":"\n