Pakistan remittances jump 13% to $3.6 billion in July

Dubai: Pakistan received $3.6 billion in workers’ remittances in July 2026, up 13 per cent year-on-year and 4.5 per cent from the previous month, the State Bank of Pakistan said on Monday.

Saudi Arabia remained the largest source of remittances at $913.9 million, followed by the UAE with $737.3 million, the UK at $555.5 million and the US at $317.2 million, , Geo News reported.

Together, Saudi Arabia and the UAE contributed more than $1.65 billion, or about 46 per cent of Pakistan’s total remittances during the month.

Prime Minister Shehbaz Sharif welcomed the increase, describing the 13 per cent annual rise as “highly encouraging”.

“The consistent and positive contribution of overseas Pakistanis to the stability and growth of the national economy is highly commendable,” he said.

Topline Research expects Pakistan’s remittances to reach $40.1 billion in the 2026-27 financial year.

Economist Dr Khaqan Najeeb said the inflows were becoming increasingly important as Pakistan’s export performance remained weak.

“A weak domestic economy, limited job creation and large differences in earnings abroad are encouraging more Pakistanis to seek work overseas. What leaves as labour is returning as foreign exchange,” he said.

While remittances were helping Pakistan manage its balance of payments, Najeeb said their growth also highlighted insufficient job creation at home.

“Instead of creating enough productive jobs at home, we are increasingly exporting our labour,” he said.