KARACHI: Pakistan received a record $41.6 billion in remittances in FY26, significantly higher than the previous year and exceeding the set target.
According to the State Bank of Pakistan (SBP) data released on Thursday, remittances stood at $3.5bn in June, up 2 per cent year-on-year but down 18pc month-on-month. The month-on-month decline was primarily due to a higher base in the preceding month. This brings cumulative remittances for FY26 to $41.6bn, up 9pc year-on-year.
The only high-growth area within the economy was remittances, which not only supported economic expansion, with 92pc going to consumption, but also filled the huge trade gap and maintained a current account balance in the country’s favour.
This $41.6bn inflow supported the economy to post 3.7pc growth in FY26, otherwise, it could have been much lower. Remittances are now the main anchor of the economy, a point recognised at the highest level, and the prime minister recently asked the foreign missions worldwide to help find jobs for Pakistani skilled and unskilled labourers.
Inflows beat target and support growth
