Pakistan remittances reached $3.46 billion in January 2026, maintaining strong external inflows despite varying performances across major corridors, according to provisional data from the State Bank of Pakistan (SBP). Europe and Western economies showed robust growth, while the United States and parts of Asia experienced a decline.
The inflows in January were slightly lower than the $3.59 billion recorded in December 2025 but significantly higher than the $3 billion in January 2025. This reflects continued resilience in diaspora transfers amidst global economic uncertainties and evolving migration trends.
Between July and January of fiscal year 2026, remittances totaled $23.2 billion, marking an 11.3% increase from the previous year. This steady momentum in overseas inflows continues to support Pakistan’s external account stability.
Country-specific data revealed shifts in remittance patterns, with traditional Gulf markets remaining dominant, but Europe and advanced economies emerging as faster-growing sources. Saudi Arabia contributed $7.39 billion in January, followed by the UAE at $6.94 billion and the UK at $5.72 billion.
Remittances from the United States decreased to $294.7 million, indicating a contraction possibly due to tariff-related tensions. In contrast, European Union countries saw a surge to $479.6 million, with FY26 inflows up by 24.6%, reflecting increased labor migration and formalization of remittances.
Australia and Canada also recorded strong fiscal-year gains, increasing by 46.5% and 29.5%, respectively, suggesting rising skilled migration to Western economies. Despite diversification, Gulf countries continued to dominate, with Saudi Arabia and the UAE being major contributors.
Economists highlight the critical role of sustained remittance inflows in stabilizing Pakistan’s external accounts, offsetting trade deficits, and supporting foreign exchange reserves. The SBP projects remittances for FY26 to reach $42 billion, with higher inflows expected during the Eid seasons.
Gold prices also rose locally, with 24-karat gold per tola increasing by Rs1,500 to Rs526,262. The international market saw a $15 increase to $5,035 per ounce.
The rupee appreciated by three paisa against the US dollar, closing at Rs279.67 in interbank trading.
Published in SouthAsianDesk, February 12th, 2026
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