Pakistan Receives $3.4 Billion in Remittances in October, Up 12% from Last Year

Karachi: Pakistan received $3.4 billion in remittances from overseas Pakistanis in October 2025, showing a 12 percent increase compared to the same month last year, according to data released by the State Bank of Pakistan (SBP) on Friday. The inflow also rose by more than 7 percent from September, when remittances stood at $3.2 billion.

During the first four months of the fiscal year, total remittances reached $12.9 billion, up from $11.9 billion in the same period last year, marking a 9.3 percent growth. Analysts said these funds continue to play an important role in supporting Pakistan’s external account, boosting economic activity, and helping families who depend on money sent from abroad.

Prime Minister Shehbaz Sharif appreciated the contribution of overseas Pakistanis, saying the steady rise in remittances shows their confidence in the government’s policies. He added that overseas Pakistanis are among the country’s most valuable assets.

The State Bank of Pakistan highlighted that the Pakistan Remittance Initiative (PRI), launched in 2009, has helped expand formal banking channels for sending money home. The number of financial institutions in the PRI network has grown from 25 in 2009 to over 50 in 2024, including conventional banks, Islamic banks, microfinance banks, and exchange companies. International partners in the network have also increased from 45 to about 400 during the same period.

Saudi Arabia remained the largest source of remittances, with $821 million sent in October, showing a 7 percent increase from the previous year. Inflows from the United Arab Emirates reached $698 million, while the United Kingdom contributed $488 million. The United States sent $290 million, which was slightly lower than last year but higher than September. Meanwhile, remittances from European Union countries saw a strong 27 percent rise, reaching $457 million.

Officials said that continued government incentives and the use of formal banking channels are key to maintaining remittance growth. They added that these funds are vital for Pakistan’s economic stability and provide strong financial support to millions of families across the country.