Record-Breaking Remittances Received in Pakistan During FY25

Data from the State Bank of Pakistan (SBP) revealed on Wednesday that Pakistan witnessed an unprecedented inflow of remittances from overseas workers, reaching $38.3 billion in fiscal year 2024-25. This figure marks the highest level of remittances ever recorded in the nation’s history.

The amount of remittances reflects a substantial increase of 27% compared to the $30.25 billion registered in the preceding fiscal year.

Samiullah Tariq, Head of Research at Pak Kuwait Investment Company, commented, “These are the highest remittances ever received during a fiscal year.”

Tariq attributed this achievement to stringent regulatory measures, a crackdown on illicit financial activities, and the sustained migration of Pakistani workers to foreign countries.

Remittances from abroad are vital in bolstering the country’s external financial position, boosting Pakistan’s economy, and supplementing the financial resources of households reliant on these funds.

Mohammed Sohail, CEO of Topline Securities, also acknowledged the positive trend. He noted on social media platform X that despite prevailing economic difficulties, overseas workers significantly increased their contributions. He shared comparative remittance inflows from Bangladesh, stating:

“Pakistan saw record remittances of $38.3 billion in FY25, marking a 27% increase. Bangladesh also experienced a surge, with record inflows of $30 billion, up by 26%.”

He emphasized that remittances are a substantial source of support for both economies, aiding in bridging external deficits and improving household financial stability.

The remittance figures for FY25 surpassed the government’s initial forecasts.

SBP Governor Jameel Ahmad had previously stated in April that the central bank had adjusted its projection for total remittances to $38 billion for the entire FY25, an upward revision from the earlier estimate of $36 billion.

In June 2025 alone, the inflow of remittances from overseas workers amounted to $3.4 billion.

This reflects an increase of 7.9% compared to the $3.16 billion recorded during the corresponding period last year. However, there was an 8% decrease compared to the $3.69 billion received in May.

Remittance Breakdown

Pakistani expatriates in Saudi Arabia were the largest contributors in June 2025, remitting $823 million. This figure represents a 10% decrease on a monthly basis but is 2% higher than the $809 million sent during the same month of the previous year.

Inflows from the United Arab Emirates (UAE) increased by 10% year-on-year, rising from $654 million to $717 million in June 2025.

Remittances from the United Kingdom totaled $538 million during the month, which is a 9% decrease compared to the $588 million recorded in May 2025. However, year-on-year inflows from the UK increased by 10%.

Overseas Pakistanis in the US sent $281 million in June 2025, indicating a decrease of 11% compared to the previous month.