Overseas Pakistanis sent a record $7.3 billion in remittances during the first two months of fiscal year 2026-27, bringing the total in line with the amount targeted under the IMF programme for the two-month period.
According to data released by the State Bank of Pakistan, remittances reached $3.7 billion in August alone, registering a 16.5% increase compared with the same month last year.
The State Bank said remittances received in August increased 0.7% on a month-on-month basis, reflecting continued strong inflows from overseas Pakistanis.
The total remittances received during July and August stood at $7.3 billion, up 14.7% compared with the $6.4 billion recorded during the corresponding period of the previous fiscal year.
The latest figures highlight the continued importance of overseas workers’ earnings in supporting Pakistan’s foreign exchange inflows.
Saudi Arabia remains largest source
Saudi Arabia contributed the largest share of Pakistan’s remittances in August, with overseas Pakistanis sending $870 million from the kingdom.
The United Arab Emirates was the second-largest source, contributing $749.8 million, according to the State Bank’s data.
Pakistan received $563.7 million in remittances from the United Kingdom, while $308.9 million was sent from the United States during the month.
$7.3 billion reached in two months
The $7.3 billion received during the first two months of fiscal year 2026-27 means Pakistan reached the amount associated with the IMF programme for the two-month period.
The strong inflow also represents a significant improvement over the $6.4 billion received during the same period of the previous fiscal year, with remittances increasing by 14.7%.
With overseas Pakistanis continuing to send billions of dollars home, remittances remain a major source of foreign exchange for the country and an important support for Pakistan’s external account.
The State Bank of Pakistan’s latest figures provide a detailed picture of remittance flows during the opening months of the new fiscal year.
August’s $3.7 billion inflow, combined with the strong July figure, pushed cumulative remittances to $7.3 billion and kept the country on track with the two-month amount under the IMF programme.
Key remittance figures
- August 2026 remittances: $3.7 billion
- Year-on-year increase in August: 16.5%
- Month-on-month increase in August: 0.7%
- July-August remittances: $7.3 billion
- Previous year’s July-August remittances: $6.4 billion
- Year-on-year increase over two months: 14.7%
- Saudi Arabia: $870 million
- UAE: $749.8 million
- United Kingdom: $563.7 million
- United States: $308.9 million
