Pakistan received $10.875 billion in workers' remittances in the first quarter of fiscal year 2026-27, up 14 percent on the same period last year, according to State Bank of Pakistan (SBP) figures released on 9 October 2026. The increase added $1.338 billion compared with $9.537 billion in July-September of the previous fiscal year.

September steady despite monthly dip

September alone brought about $3.6 billion, up 12.7 percent year on year but down 1.9 percent from August. Saudi Arabia remained the largest source in September at $899 million, followed by the United Arab Emirates at $749 million and the United Kingdom at $515 million.

Remittances covered the trade gap

The Finance Division's September economic update shows just how central these inflows have become. In July and August 2026, remittances of $7.29 billion, up 14.7 percent, exceeded the entire goods and services deficit of $6.75 billion for the same two months. Goods imports rose 11.4 percent to $11.6 billion while goods exports rose only 4.0 percent to $5.44 billion, yet the current account deficit still narrowed from $853 million to $543 million, helped by remittances and services exports.

Adviser to the Finance Minister Khurram Shehzad said the figures highlight the growing contribution of overseas Pakistanis to the national economy and the importance of remittances in supporting foreign exchange inflows and economic stability.

Strength, not a substitute

Economists caution that remittances, while vital for household spending and foreign exchange, are not exports and cannot replace productivity gains, better tax collection or a sustainable import bill. Host-country growth, exchange rates and transfer costs all sit outside any family's control, so the breathing space they provide needs to be used for reform rather than treated as a permanent fix.

Sources: Origin Pakistan, The Global Times