The State Bank of Pakistan on Monday said that remittances from overseas Pakistanis had reached $3 billion in January 2025, a year-on-year growth of 25.2%.
Cumulatively, during the first seven months of the ongoing fiscal year, workers’ remittances reached $20.8 billion against $15.8 billion during the corresponding period last year, a growth of 31.7%. However, the January figure was 3.2% lower than the $3.1 billion recorded in December 2024.
According to the central bank, the largest amount of remittances were received from Saudi Arabia ($728.3 million); followed by the United Arab Emirates ($621.7 million); United Kingdom ($443.6 million); and United States of America ($298.5 million).
The high volume of remittances comes as a blow to former Prime Minister Imran Khan, who had issued a call for overseas Pakistanis to stop sending remittances as a means to pressure the incumbent government, which he alleges has an illegitimate mandate. Khan has likened the boycott call to a civil disobedience movement.
Analysts have attributed the surge to economic recovery, a stable exchange rate, and a boost in the number of skilled Pakistani workers who have emigrated in recent years. Recent global reductions in inflation have also encouraged Pakistani migrants to send more money back home.
The surge in remittances has enabled Pakistan to meet a budgeted $5 billion annual growth target.