Remittances rise 14% to $14.8bn in first four months of FY27
Overseas Pakistanis sent $14.77 billion home in July-October 2026, up 14% from a year earlier, the State Bank of Pakistan said. The amount is close to the $14.6 billion merchandise trade deficit for the same period.
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- Remittances reached $14.77 billion in July-October FY27, up 14% year-on-year.
- October inflows hit $3.9 billion, the highest monthly figure so far this fiscal year.
- Saudi Arabia and the UAE together provided about 45.5% of inflows.
Workers' remittances to Pakistan rose 14 percent in the first four months of fiscal year 2026-27, the State Bank of Pakistan (SBP) said on Tuesday. Inflows stood at $14.77 billion in July-October, compared with $12.96 billion in the same period of the previous fiscal year.
October was the strongest month of the year so far. Remittances reached $3.9 billion, up 13.8% from $3.42 billion in October 2025 and up 8.5% from $3.59 billion in September, according to The Express Tribune.
The Express Tribune reported that the four-month inflow nearly matched the merchandise trade deficit of $14.6 billion for the same period. The trade deficit widened 16% year-on-year, according to Waqas Ghani of JS Global.
Gulf countries remained the main source. Saudi Arabia sent $3.67 billion and the UAE $3.05 billion, together about 45.5% of total inflows. Gulf Cooperation Council countries contributed about $8.09 billion, or 54.8%. Inflows from Saudi Arabia rose 16.5% and from the UAE 13.5%, while Bahrain rose 15.8%, Kuwait 13.9% and Qatar 13.6%.
Within the UAE, remittances from Dubai rose 28% to $2.51 billion, while those from Abu Dhabi fell 29.5% to $443.2 million.
The United Kingdom sent $2.23 billion, up 19.2%. The United States contributed $1.26 billion, up 13.8%, and European Union countries $1.87 billion, up 9.6%. Italy sent $565.2 million, Spain $339.9 million and Germany $282.5 million. Australia sent $386.9 million, up 12.9%, and Canada $268.9 million, up 11.5%.
Ghani said: "Overseas Pakistanis just covered almost the entire trade deficit, again." He also said: "Remittances are buying Pakistan time. The question is whether exports can catch up or nah,"
Background
khabr.pk reported on 10 November that remittances in October 2026 were $3.89 billion, about 14% higher than a year earlier, according to the SBP. On 6 November we reported that liquid foreign exchange reserves rose $111 million to $26.86 billion in the week ending 30 October. The interbank dollar closed at Rs276.65 on 10 November.
Why it matters for Pakistan
Remittances are sent to families in Pakistan and support household incomes. The Express Tribune reported that the four-month inflow of $14.77 billion nearly matched the $14.6 billion trade deficit, which eases pressure on dollar supply. The interbank rate closed at Rs276.65 on Tuesday, up Rs0.01. Because Saudi Arabia and the UAE supply about 45.5% of inflows, families and the economy rely heavily on workers in those two countries.
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