ISLAMABAD, July 9 (Xinhua) -- Remittances sent by overseas Pakistani workers rose by 26.6 percent to a record 38.3 billion U.S. dollars in fiscal year 2024-25 (FY25), up from 30.3 billion dollars in FY24, the State Bank of Pakistan said Wednesday.
The sharp rise was driven by higher inflows from key host countries including Saudi Arabia, the United Arab Emirates (UAE), the United Kingdom, and the United States, according to official data.
In June 2025 alone, remittances stood at 3.41 billion dollars, following 3.69 billion in May and 3.18 billion in April.
Saudi Arabia led with 823.2 million dollars in June, followed by the UAE with 717.2 million dollars, the UK with 537.7 million dollars, and the U.S. with 281.2 million dollars.
Significant contributions also came from Gulf Cooperation Council countries such as Qatar and Oman, and European countries including Italy, Spain, and Germany. Italy alone accounted for 129.3 million dollars in June.
Economists say strong remittance inflows will help ease pressure on the external account and bolster Pakistan's foreign exchange reserves.
Remittances remain a key source of external financing for the country. ■