Pakistan’s remittances climb to $3.6 billion in December

Pakistan received $3.59 billion in workers’ remittances in December, the latest data from the State Bank of Pakistan shows, marking a notable increase from the same month last year and highlighting the continued resilience of funds sent home by Pakistanis abroad.

The inflows rose by about 16.5% compared with December 2024, when remittances stood near $3.1 billion, and were around 13% higher than November’s roughly $3.2 billion, according to the central bank figures released Friday.

The steady remittance flows come amid rupee stability and a broader pickup in economic indicators and have helped cushion the country’s external account pressures as imports and other outflows continue to weigh on foreign exchange dynamics.

Saudi Arabia remained the largest single source of remittances in December, with Pakistanis there sending back about $813 million, followed by strong contributions from the United Arab Emirates, the United Kingdom and the European Union, the central bank data showed.

The inflows reflect continued engagement with formal banking channels and steady labor demand in key host countries, contributing to the central bank’s efforts to build foreign exchange reserves and support the balance of payments.

Remittances have been averaging above $3 billion per month as part of a broader trend that has seen cumulative inflows climb in the first half of the fiscal year, underscoring their importance to Pakistan’s external sector.

For the first half of fiscal year 2025-26, overseas Pakistanis sent home about $19.7 billion, up 10.6% from the same period the previous year, the data showed.