Inflow rises 20.2% month-on-month and 15.4% year-on-year, strengthening external stability and supporting foreign exchange reserves.
Image: Khyber news
Pakistan received a record $4.3 billion in workers’ remittances in May, marking the highest-ever monthly inflow, according to data released by the State Bank of Pakistan.
The central bank said the inflows rose 20.2% compared to the previous month and 15.4% year-on-year, reflecting strong contributions from overseas Pakistanis.
Prime Minister Shehbaz Sharif welcomed the development, saying the surge demonstrated confidence in the country’s economy and the continued support of overseas Pakistanis.
Officials said the record inflows are helping strengthen foreign exchange reserves, support the rupee, and finance Pakistan’s trade deficit amid ongoing external pressures.
Saudi Arabia and the United Arab Emirates remained the largest sources of remittances, together contributing a significant share of total inflows.
Economists noted that sustained remittance growth will remain crucial for Pakistan’s economic stability, particularly as global energy and geopolitical uncertainties continue to pose risks to external accounts.
