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Pakistan’s October Remittances Hit $3.4 Billion, Up 12% Year Over Year

Officials credit digital-transfer incentives for steering more funds into formal channels.

Overview

  • State Bank data show October inflows rose about 7% from September to $3.4 billion, the strongest monthly pace since June.
  • Remittances totaled $13.0 billion in July–October FY26, an increase of 9.3% from the same period a year earlier.
  • Key sources in October were Saudi Arabia ($820.9m), the United Arab Emirates ($697.7m), the United Kingdom ($487.7m) and the United States ($290.0m).
  • The central bank links the uptrend to policies promoting digital transfers and efforts to curb informal channels, with analysts also citing steadier use of banking platforms.
  • Prime Minister Shehbaz Sharif praised overseas Pakistanis and said rising inflows bolster policy credibility, while The Express Tribune noted external pressures persist as the four-month trade deficit widened to $12.6 billion.