Pakistan Workers’ Remittances Reach $3.29 Billion In February

March 10, 2026 Diplomats World

Pakistan recorded overseas workers’ remittances worth $3.29 billion in February 2026, according to data released by the State Bank of Pakistan (SBP) on Tuesday.

Remittances Record 5.2 Percent Yearly Growth In February

The inflow marked a 5.2 percent year-on-year increase compared with $3.12 billion received during the same month last year. On a monthly basis, however, remittances declined by 5 percent from $3.46 billion recorded in January 2026.

Data also showed that remittance inflows during the first eight months of the current fiscal year (8MFY26) reached $26.49 billion. This represents a 10.5 percent increase compared with $23.98 billion received during the corresponding period of the previous fiscal year (8MFY25).

Remittances remain a key component of Pakistan’s external sector, providing support to the country’s balance of payments and contributing to economic activity. These inflows also supplement the disposable incomes of households that depend on overseas earnings from family members working abroad.

Pakistan Remittance Inflows Rise To $26.49 Billion In FY26

The government continues to promote remittance inflows through formal financial channels by offering incentives and facilitating easier transfer mechanisms. Authorities view these measures as essential to maintaining steady growth in remittances and supporting economic stability.

The State Bank of Pakistan previously highlighted the role of the Pakistan Remittance Initiative (PRI), launched in 2009 to encourage remittances through formal banking channels. The initiative has worked to strengthen collaboration between financial institutions and international partners to improve the efficiency and accessibility of remittance services.

According to the central bank, the number of financial institutions participating in the PRI network has increased significantly since its launch. In 2009, approximately 25 institutions were part of the network, while the number exceeded 50 by 2024.

UAE Leads Overseas Pakistanis’ Remittance Contributions In February

The institutions involved include conventional commercial banks, Islamic banks, microfinance banks, and exchange companies operating within the country’s financial system.

In addition to these institutions, Electronic Money Institutions (EMIs) have also been permitted to receive home remittances through banks, further expanding the channels available for overseas Pakistanis to transfer funds.

The expansion of partnerships with international entities has also contributed to the growth of the remittance system. The number of international partners connected with the PRI network has increased from around 45 in 2009 to approximately 400 at present.

EU Remittances To Pakistan Post Significant Yearly Increase

Data released by the central bank also provided a breakdown of remittance inflows by country and region during February 2026.

Overseas Pakistanis residing in the United Arab Emirates sent the largest share of remittances during the month. Inflows from the UAE reached $696.2 million, reflecting a 6 percent increase on a yearly basis. The amount also represented a 6 percent rise compared with the $658 million remitted by expatriates in the previous month.

Remittances from Saudi Arabia totaled $685.5 million in February 2026. This represented an 8 percent year-on-year decline compared with $745 million recorded during the same period last year.

Inflows from the United Kingdom stood at $532 million during February 2026. The amount was 7 percent lower compared with the $575 million sent in January 2025, while year-on-year remittances from the UK increased by 7 percent.

Overseas Pakistanis living in the United States sent $319.5 million during February. These inflows registered a 3 percent increase compared with the same month last year and an 8 percent rise on a monthly basis.

Remittances from countries in the European Union reached $395 million during February 2026. The figure reflected a notable 15 percent increase on a yearly basis, highlighting stronger inflows from the region.

Overall, remittance inflows continued to play a crucial role in Pakistan’s economy by strengthening external accounts and supporting households that rely on income from overseas workers.