Overseas Pakistanis Remit $3.89 Billion in October, Up 13.8% Year-on-Year

Overseas Pakistanis sent home $3.892 billion in October, a 13.8 percent increase from the same month last year, according to data released by the State Bank of Pakistan. The monthly intake was also 8.5 percent higher than September's level, pointing to renewed momentum in formal money transfers as the key winter remittance period gets underway.

Saudi Arabia remained the single largest source of inflows, contributing $982 million in October — up 17 percent from $838 million a year earlier and 9 percent from September. Remittances from the Kingdom reached $3.668 billion between July and October, marking a 16 percent annual rise.

The United Arab Emirates followed with $816 million in October, up 16 percent year-on-year from $703 million, while the United Kingdom sent $592 million, a 19 percent jump from $499 million a year earlier. The United States contributed $329 million, up 9 percent year-on-year, and the European Union accounted for $461 million, a 9 percent increase.

Other Gulf Cooperation Council countries added $370 million in October, up 7 percent from a year earlier, and remittances from the rest of the world totaled $343 million, up 11 percent.

Cumulatively, inflows rose 14 percent to $14.767 billion in the first four months of FY27, compared with $12.956 billion in the same period last year. The increase offers a useful cushion for foreign exchange reserves at a time when the country is servicing heavy external debt repayments.

Topline Research expects Pakistan's workers' remittances to reach $44.7 billion in FY27, following the 14 percent growth recorded in the first four months of the fiscal year, with October alone bringing in nearly $3.9 billion.