Pakistan’s workers’ remittances to Pakistan continued their upward journey in the first five months of FY26, rising 9% year-on-year to $16.145 billion, according to fresh data released by the State Bank of Pakistan (SBP). The increase comes even as November’s monthly inflows dipped compared to October.

SBP numbers show Pakistan received $3.19 billion in remittances during November 2025 — a solid 9% jump from $2.92 billion recorded in November last year. However, the figure was 7% lower than October 2025’s robust $3.42 billion, reflecting a slight monthly cooldown.

The July–November total of $16.145 billion also surpassed the $14.77 billion received during the same period of FY25, reinforcing the country’s reliance on overseas Pakistanis who continue to support the economy through workers’ remittances to Pakistan.

Saudi Arabia remained the top contributor in November, sending $753 million. The United Arab Emirates followed with $675 million. For the first five months of FY26, remittances from Saudi Arabia reached $3.90 billion, from the UAE $3.36 billion, while the United Kingdom contributed $2.34 billion. Inflows from the United States stood at $1.38 billion during the same period.

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Arif Habib Limited noted that November’s $3.19 billion inflow marked a 9% year-on-year rise despite a 7% month-on-month decline. The brokerage highlighted that cumulative 5MFY26 remittances increased 9% YoY to $16.14 billion.

In its economy alert, Topline Securities echoed similar trends, saying Pakistan’s November remittances “came in at” around $3.2 billion, maintaining the overall 9% YoY growth for the July–November period.

Topline Research attributed the strength in remittance inflows to higher manpower exports in recent years, reduced gaps between formal and informal exchange rates, and the continuation of the government’s incentive package aimed at encouraging overseas transfers through legal channels.

The brokerage firm has maintained its FY26 remittance forecast at $41 billion — a 7.5% increase from FY25’s $38 billion. Analysts believe that consistent policy support and a stable exchange environment will remain key in sustaining growth.