Pakistan records highest-ever monthly remittances at $4.3 billion in May

Pakistan received a record $4.251 billion in workers’ remittances in May 2026, the highest monthly inflow ever recorded, according to data released by the State Bank of Pakistan (SBP) on Wednesday.

The inflows increased by 20.2% compared with April 2026 and were 15.4% higher than the amount received in May 2025.

With one month remaining in the fiscal year, cumulative remittances during July-May FY26 reached $38.1 billion, up 9.2% from $34.9 billion received during the corresponding period of the previous fiscal year.

Khurram Schehzad, adviser to the finance minister, said the country had recorded its highest-ever monthly remittance inflow, noting that remittances are on track to exceed $41 billion for the first time in Pakistan’s history by the end of FY26.

Remittances remain a key source of foreign exchange for Pakistan, supporting the external account, contributing to economic activity and supplementing household incomes across the country. The government has also continued to encourage inflows through formal channels and incentive-based schemes.

Saudi Arabia remained the largest source of remittances during May, with overseas Pakistanis sending $1.025 billion. The amount was 12% higher than the $914 million received in the same month last year and 22% above the $842 million received in April 2026.

The United Arab Emirates ranked second, with remittances reaching $1.007 billion. Inflows from the UAE rose 33% year-on-year from $754 million in May 2025 and increased 37% compared with the previous month.

Pakistanis residing in the United Kingdom sent $645 million during May, up 15% from $564 million in April.

Remittances from the United States stood at $350 million, reflecting a 10% increase from $317 million recorded a month earlier.

Meanwhile, inflows from European Union countries reached $466 million, posting an 8% increase from $432 million in April.