Remittances rise 9.2% to $38.1 bln in 11 months of FY2025-26: SBP

KARACHI: The State Bank of Pakistan (SBP) has released data showing a significant increase in remittance inflows during the first 11 months of the current fiscal year.

According to the central bank, remittances stood at $4.3 billion in May 2026, marking a 15.4 per cent increase compared to May 2025. On a month-on-month basis, inflows rose by 20.2 per cent compared to April 2026.

Overall, remittances increased by 9.2 per cent during the first 11 months of the fiscal year, reaching $38.1 billion, compared to $34.9 billion during the same period last year.

In May 2026, the highest inflows were recorded from Saudi Arabia at $1.025 billion, followed by the United Arab Emirates at $1.066 billion, the United Kingdom at $645.5 million, and the United States at $349.8 million, the SBP data showed.

SBP reports 49% jump in 10-month freelancer earnings to $959 million

The 10-month foreign exchange earnings of Pakistan’s information technology (IT) freelance community in the current financial year surged by nearly 50 percent to reach $959 million.

The State Bank of Pakistan (SBP) apprised that cash inflows from IT freelancers during the current fiscal year ticked up by 49 per cent to reach $959 million, compared to the same period last fiscal year.

During the first 10 months of the previous fiscal year, IT freelancers had generated $642 million in foreign exchange.

Concurrently, overall Pakistani IT exports blossomed, surpassing the $3 billion mark during the first 10 months of the current financial year (2025–2026).