Remittances hit $31.2bn in Jul–Apr FY25, April inflows dip

KARACHI: In April 2025, Pakistan saw an inflow of $3.2 billion in workers' remittances, according to the latest figures published by the State Bank of Pakistan (SBP) on Friday.

While inflows rose 13.1% compared to the $2.81 billion received in April last year, they were down 22% from March, when remittances stood at $4.1 billion.

During the first ten months of the current fiscal year (Jul-Apr FY25), total remittances rose 31% to $31.2 billion, up from $23.9 billion in the same period last year.

Remittances are a key source of foreign exchange for Pakistan, helping to support the external account and boost household incomes.

Prime Minister Shehbaz Sharif has expressed satisfaction over the 31% rise in remittances during the first ten months of the current fiscal year.

"The increase reflects the deep patriotism of overseas Pakistanis and their trust in the country’s economic policies," the premier said in a statement while hailing the role of expatriates in strengthening the country's economy.

From July 2024 to April 2025, remittances reached a record-high of $31.2 billion — the highest ever for this period, the prime minister noted.

In April 2025, most of the remittances came from Saudi Arabia, which contributed $725.4 million, followed by the United Arab Emirates with $657.6 million.

The United Kingdom sent $535.3 million, while inflows from the United States stood at $302.4 million.

These countries remained the top sources of remittances for Pakistan during the month.

Remittances surged to a record $4.1 billion in March 2025 — the first time monthly inflows crossed the $4 billion mark.

This historic inflow represented a 37.3% year-on-year increase from March 2024 and a 29.8% month-on-month rise compared to February 2025. It was the highest level of monthly remittances ever recorded in the country’s history.

According to Mustafa Mustansir, Director of Research and Business Development at Taurus Securities Limited, the surge was aided by seasonal inflows during Ramadan and Eid.