Overseas Pakistanis send $3.5 billion in April as remittances jump 11pc

Pakistan received $3.53 billion in workers’ remittances during April 2026, reflecting an 11.4 per cent increase compared to the same month last year, according to fresh data released by the State Bank of Pakistan (SBP) on Monday.

Despite the strong yearly growth, remittance inflows recorded a monthly decline of 7.6 per cent compared to March 2026, when overseas Pakistanis had sent home $3.83 billion. Analysts linked the slowdown to unusually high transfers during recent months ahead of Eid-related spending.

The central bank’s figures showed that total remittances received during the first ten months of fiscal year 2025-26 climbed to $33.86 billion, up 8 per cent from the same period last year, highlighting continued support from Pakistanis working abroad amid ongoing economic challenges at home.

Saudi Arabia remained the largest source of remittances in April, with Pakistani workers sending back $841.7 million. The United Arab Emirates followed with $734.7 million, while other Gulf countries contributed around $325 million collectively.

Overall, inflows from Middle Eastern countries reached nearly $1.9 billion during the month, reinforcing the region’s critical role in supporting Pakistan’s foreign exchange reserves and household incomes.

Financial analysts say the steady rise in remittances could help ease pressure on Pakistan’s external account balance, as the government aims to achieve a full-year remittance target of around $41 billion for FY26, compared to nearly $38 billion recorded in the previous fiscal year.