Pakistan worker remittances rise 13% to $3.6 billion in July

Pakistan received $3.6 billion in workers’ remittances in July, representing a 13 percent increase compared to the same period last year and a 4.5 percent increase from the previous month, according to the State Bank of Pakistan.

Saudi Arabia was the largest contributor to these inflows, providing $913.9 million. Other significant sources included the United Arab Emirates ($737.3 million), the United Kingdom ($555.5 million), and the United States ($317.2 million). These inflows follow a record fiscal year ending in June, during which Pakistan received $41.6 billion in remittances.

Prime Minister Shehbaz Sharif noted that overseas Pakistanis are an invaluable part of the national economic mainstream. The central bank highlighted that these remittances are critical for supporting the country’s external account, foreign exchange position, and financing the trade deficit, though it cautioned that regional conflicts in the Gulf could impact future stability.