Pakistan received $3.29 billion in workers’ remittances in February 2026, according to data released by the State Bank of Pakistan (SBP) on Tuesday.
The amount was about 5.2 percent higher than the $3.12 billion recorded in February last year. However, it was slightly lower than the $3.46 billion received in January, showing a decline of around 5 percent on a monthly basis.
Remittances are an important source of foreign exchange for Pakistan. The money sent home by Pakistanis working abroad helps support families, boosts household spending and also strengthens the country’s external finances.
Strong growth during the fiscal year
During the first eight months of the current fiscal year, remittances reached $26.49 billion. This was up 10.5 percent compared with $23.98 billion received in the same period of the previous fiscal year.
The steady flow of funds from overseas workers continues to play a key role in Pakistan’s economy. Many households rely on these payments for daily expenses, education and healthcare.
Authorities have also been encouraging overseas Pakistanis to send money through official banking channels. The aim is to keep remittance flows stable and reduce the use of informal transfer systems.
One of the key programmes supporting this effort is the Pakistan Remittance Initiative, which was launched in 2009. The initiative works with banks and other financial institutions to make transfers easier and more secure.
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According to the SBP, the number of financial institutions linked with the programme has grown from around 25 in 2009 to more than 50 by 2024. These include conventional banks, Islamic banks, microfinance banks and exchange companies.
Electronic money institutions have also been allowed to receive remittances through banks. At the same time, the number of international partners connected to the network has increased sharply, from about 45 in 2009 to around 400 today.
UAE remains the largest source
A country wise breakdown shows that Pakistanis working in the United Arab Emirates sent the largest amount of money in February.
Remittances from the UAE reached $696.2 million during the month. The figure was about 6 percent higher than the amount recorded a year earlier.
Inflows from Saudi Arabia stood at $685.5 million in February. This represented an 8 percent decline compared with the same month last year.
Pakistanis living in the United Kingdom sent $532 million during February. The amount was 7 percent lower than the previous month but still showed a 7 percent increase on a yearly basis.
Meanwhile, remittances from the United States reached $319.5 million. The figure was 3 percent higher than a year earlier and about 8 percent higher than January.
Workers based in countries of the European Union also increased their transfers. Remittances from the EU totalled $395 million in February, marking a yearly rise of about 15 percent.
Economists often see remittances as a stabilising factor for Pakistan’s economy. With many families relying on the income sent from abroad, the steady flow of funds continues to provide support during periods of economic pressure.
