Remittances rise 9% to $16.1bn in first five months of FY26

• November inflows rise YoY but fall from October.
• Saudi Arabia stays Pakistan’s largest remittance source.
• Brokerage projects FY26 remittances to reach $41bn.

Workers’ remittances to Pakistan rose 9% year-on-year to $16.145 billion in the first five months of the financial year 2025-26 (July-November), even as monthly inflows eased to $3.19 billion in November, according to State Bank of Pakistan (SBP) data.

The SBP figures show November 2025 remittances were 9% higher than the $2.92 billion received in November 2024, but 7% lower than October 2025’s $3.42 billion. 

The July-November total compares with about $14.77 billion in the same period of FY25, reflecting a 9% year-on-year increase.

Saudi Arabia remained the largest source of inflows in November, with overseas Pakistanis sending $753 million, followed by the United Arab Emirates, which sent $675 million. 

Over the first five months of FY26, remittances from Saudi Arabia amounted to $3.90 billion, from the UAE to $3.36 billion, and from the United Kingdom to $2.34 billion. In the same period, inflows from the United States stood at $1.38 billion.

Arif Habib Limited noted that remittances by overseas Pakistanis increased 9% year-on-year to $3.19 billion in November 2025 from $2.92 billion a year earlier, while declining 7% on a month-on-month basis. 

It added that cumulative remittances in 5MFY26 rose 9% YoY to $16.14 billion.

In an economy alert issued today, Topline Securities said Pakistan’s remittances “came in at” about $3.2 billion in November, up 9% YoY and down 7% month-on-month, taking 5MFY26 inflows to $16.145 billion, also 9% higher than the same period of FY25.

According to Topline Research, the current remittance growth is being supported by higher manpower exports in previous years, a narrower gap between formal and informal exchange-market rates and the continuation of the remittance incentive package. 

The brokerage maintained its FY26 remittance forecast at $41 billion, which would be 7.5% higher than FY25’s level of $38 billion.