Pakistan's remittances rise 14.7 pct in Q1

ISLAMABAD, Oct. 10 (Xinhua) -- Pakistan received 10.9 billion U.S. dollars in workers' remittances during the first quarter of fiscal year 2026-27, up 14.74 percent year on year, the State Bank of Pakistan said Friday.

Remittances stood at 3.6 billion dollars in September, up 12.7 percent from 3.2 billion dollars in the same month last year, but down 1.9 percent from August, according to the central bank.

Saudi Arabia remained the largest source of remittances in September, with inflows reaching 899.13 million dollars, up 19.73 percent year on year. Remittances from the United Arab Emirates rose 10 percent to 748.53 million dollars.

Inflows from Britain increased 13.3 percent year on year to 515.15 million dollars, while those from the United States rose 13.7 percent to 305.87 million dollars.

Remittances from European Union countries totaled 447.71 million dollars, down 9.7 percent from August, the data showed.

Workers' remittances are a key source of foreign exchange for Pakistan, helping support its external account and household incomes.